SK Tools up for sale?

[Mavsman]

I was browsing HarryEpstein.com and watched the video posted on their homepage.

They talk about the impact covid has had on supply chains and US based tool manufacturers in general. Around the 5 minute mark they mention that SK Tools is up for sale.

I've grown to count on SK to provide US made tools at an affordable price, relative to the tool truck. It's the first I'm hearing of SK being for sale, but I hope there's no plans of outsourcing after the sale, if they sell.

 

[hasco]

Very Interesting .

 

[G1GRANDEUR]

interesting, hope they find right owner.

btw, is HarryEpstein.com sill active?

 

[Fedwrench]

That might explain the lack of new products being released. SK turns 100 this year. hard to say who would even buy it

It's been sold before. Hopefully, things will work out

 

[bimmer630]

That might explain the lack of new products being released. SK turns 100 this year. hard to say who would even buy it

It's been sold before. Hopefully, things will work out

I’ve been seeing new products... but honestly pretty lame products. That dt mechanism ratchet with the bit driver is terrible. Who would want to drive small screws with a ratchet that has so much back drag? Especially when plenty of fine tooth and smaller profile bit drivers already exist on the market.
X frame wrenches seem like a solution for a problem that didn’t exist...
And those flex zone sockets? I dunno... they just come out with weird tools.
Their latest “innovation” was o2 sensor sockets... which every mechanic and their brother already owned 15 years ago


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[Rinspeed]

A quick search says their annual revenue is approximately $20 million and only 60 employees, not exactly a big company.

 

[sk farmer]

well i wasn't going to say anything but....... since it came up.

why speculate when you can go to the source. i called and chatted with jori at hje yesterday. he is the younger guy in the video. his explanation is pretty simple. management at sk would like to expand/grow the company. the current owners are not able/willing to do that right now but would entertain offers to sell it to someone who would/could take it to the next level. in essence, sk may be for sale to the right people who want to take it to the next level but sk is doing fine on it's own. there is no fire sale,

that is the way i understood it and hopefully jori will wander in and explain it better than i did.

he also gave me one other bit of insider news not exactly related to sk but western forge but i will let him say that if he wishes.

 

[1982fxr]

Western Forge already auctioned everything off, right?

 

[bonneyman]

So, SK management want to grow but Ideal HQ doesn't want to invest in it.

You'd think that after acquiring SK over 10 years ago and investing all that down time in development of new tools/designs Ideal would be up for pushing production up as much as possible.

Curious about Western Forge, too. Maybe they'll start making their own branded tools - in the Sears designs everybody likes - and go big now that Sears is gone.

 

[toddmorr]

$20m revenue is surprising. I would have thought much bigger than that.

 

[dutchgray]

$20m revenue is surprising. I would have thought much bigger than that.

This is the reality of the first world tool manufacturer, unless you're the top name that every one wants, there just isn't that many customers willing to stump up the extra money for tools that in reality are no better than what you can get from Taiwan.
SK doesn't really exist outside the USA either which doesn't help, in the Facom owned era they could be got from the same wholesalers here, I even bought a rail of 1/4" metric sockets a few years ago that had got forgotten about at the back of the shelf at my local independent tool shop.

 

[Ralf11]

I'm getting the idea that tool brands are being traded around just like car brands.

Tata (india) owns Jaguar now so maybe they'll buy SK...

 

[Fedwrench]

Curious about Western Forge, too. Maybe they'll start making their own branded tools - in the Sears designs everybody likes - and go big now that Sears is gone.

I thought everything from the Western Forge plant in Colorado Springs that wasn't moved to the SK factory was auctioned off

Not to rain on anyone's parade but, why would you need Western Forge when Wilde is still up and running?

 

[measuredtwice]

Not to rain on anyone's parade but, why would you need Western Forge when Wilde is still up and running?

Didn't Western Forge make some stuff for Wilde?

Doesn't the "W F" on the end of this Wilde wrench, mean that it was made by Western Forge?

Here's the front, showing the Wilde branding.

I'm not sure what Wilde is still making. Maybe punches and water pump pliers?

 

[SK-Mike]

Wow, I had no Idea SK was up for sale. I hope good people buy the company and keep manufacturing in the USA.

Maybe explains why my 3/8 metric socket set (94521) has been on backorder since December 17.

 

[bimmer630]

Wow, I had no Idea SK was up for sale. I hope good people buy the company and keep manufacturing in the USA.

Maybe explains why my 3/8 metric socket set (94521) has been on backorder since December 17.

Probably not... I think the corona virus is at fault for most of the delays, as stated in the video by HJE.
Sounds like SK isn’t looking for a buyer because they’re in trouble, (if you read through the previous comments).. they’re just looking for an owner that will allow them to expand


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[mrjaw14]

Man and I just bought a bunch of sk stuff. Hopefully warranty doesn’t become an issue. I have something in for warranty right now actually

 

[dsaabm]

I hope they can get a good deal with some money for product development and market research. It's a great brand but the stagnated product line and qc issues drag it down. I feel they have noticeably improved in the last couple years but it is a very slow pace. They missed the mark with their wildly expensive aluminum toolboxes and need to offer more than basic hardline tools. Where are extra long or double box x-frame wrenches? The lack of investment and motivation from ideal makes sense as to why things have been so slow over there.

 

[justintendo]

I would invest in the x frame ratchet wrenches...but they are puzzlingly only made in 6 point. If you only have one style it needs to be 12 point for a wrench.

 

[bimmer630]

I would invest in the x frame ratchet wrenches...but they are puzzlingly only made in 6 point. If you only have one style it needs to be 12 point for a wrench.

12 point fasteners are rare enough that I’d actually rather have a ratcheting wrench in 6 point, for strength and to avoid rounding things off.
That being said I never spring for the SK x frames because they don’t have a flex... and I already bought non flex gear wrenches about 20 years ago when they first came out. The super tight ratcheting arc isn’t big enough of a selling point when the wrench doesn’t flex


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[Fedwrench]

I would invest in the x frame ratchet wrenches...but they are puzzlingly only made in 6 point. If you only have one style it needs to be 12 point for a wrench.

Nope, not when there's a click every 1.7 degrees. The argument about wrench engagement kind of goes out the window then

 

[Junkdrawer Dog]

A quick search says their annual revenue is approximately $20 million and only 60 employees, not exactly a big company.

Yes, not a very large company. This'll probably end up as one of those deals where the company is sold, the plant closed, equipment auctioned and employees terminated. The company name and brand will be the only assets. The brand will end up on anonymously produced Taiwan tools sold mostly online at approximately the same price point as today. Your warranty won't be worth squat. Or maybe I'm wrong?

 

[M6erfan]

The U.S. tool market is tough. I'd hate to see SK go away, or go to Asian manufacturing. I had no idea the company was so small.

 

[Fly YX]

Maybe Apex will buy it and turn it all to Gearwrench
Oh wait that's been done before.

 

[vssjim]

We will have to wait and see I have tons of SK tools from bought when I started around 1970ish until now and they have always been a good tool and value so as I say we will wait and see. If Jori said it's not a fire sale then he should know what they told him. I think The Ideal family spent a lot of money to do what they have done so far even with having to close Western Forge after spending money to try to save and rebuild it. I'm not sure the huge drop in sales from Sears as an outlet could be over come for WF in the long run That was a huge outlet for them plus now people buying imports that took the place of WF was a double whamy and that cost Ideal plenty. I also think they have bent over backwards to warranty tools for people, I mean they send out tools for free replacement for tools that were sold to somebody decades earlier in hopes that maybe they will be happy and purchase some new product. I have also read on these forums where the only tools they had were SK they bought to get warrantied at yard sales etc. with no intention of buying anything new from SK. So I wish them the best and hope after spending a lot of money to buy SK out of bankruptcy and rebuild poorly maintained machines etc. they have laid the ground work for someone to move forward. We will all being watching and hoping for the best.

 

[Darinfred]

I hope SK doesn’t go away!

 

[BlakeTheCarGuy]

I hope they don’t go downhill or overseas. Their stuff is excellent.


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[demarpaint]

I like their tools and the CS is very good. I hope they stick around.

 

[Davefr]

I wonder if there's a place for SK under the SBD umbrella? Ideal never seemed like the right fit for SK.

Stanley - Value Consumer
CM- Consumer
MAC - Dealer Automotive
Proto - Industrial
SK - Premium Consumer/Retail Automotive????

Stanley,CM,SK = Good, better, best marketing

However it's a very crowded field and I don't think branding means as much as it use to for the average tool consumer.

 

[finn]

For all the talking this forum of wanting USA produced hand tools, very few follow up and actually purchase them, aside from a couple of boutique manufacturers like SO.

Power tools are the same. Dewalt has invested heavily in US assembly, but Milwaukee, which is almost all imported, gets a pass from the “I want USA” cloud.

 

[measuredtwice]

I think Stanley would place Stanley as consumer and Craftsman as premium consumer. The USA made (with global materials) Craftsman will likely be a direct competitor with SK.

In the Craftsman topic there were claims that Craftsman will use American steel, American forging, American blow molded cases, American corrugated boxes, etc. I'm left wondering how that can be be true if they also need to say "global materials". I hope it's true though.

I'm not sure how Ideal divided up Western Forge and Pratt Read among their holdings... it's something like 38 subsidiaries and branches. I suspect Ideal would retain those tools etc from Western Forge and Pratt Read if they sell SK.

Whether they are under the Ideal umbrella or picked up by another company, I wish them well.

 

[lardy1]

It's too bad. I've bought and used a lot of their tools and I'm happy with them. But their marketing and their product development **** to high heaven. I'm hoping the right investors/buyers come along to keep them competitive.

 

[Toold_up]

How about everyone who wishes SK doesn't close buy something from them? I really like their screwdrivers:

https://sktools.com/shop/5-piece-cushiongrip-long-reach-screwdriver-set.html

 

[justintendo]

deleted

 

[Rinspeed]

How about everyone who wishes SK doesn't close buy something from them? I really like their screwdrivers:

I just ordered another ratchet form them the first of the week. I don't think there is any chance they will close. $20 million a year is not too bad for a small company with only 60 employees. I agree with lardy though that their marketing is a little lacking.

 

[kngelv]

For all the talking this forum of wanting USA produced hand tools, very few follow up and actually purchase them, aside from a couple of boutique manufacturers like SO.

Power tools are the same. Dewalt has invested heavily in US assembly, but Milwaukee, which is almost all imported, gets a pass from the “I want USA” cloud.

Very true?

James

 

[Wrench97]

I've never been a fan of the round head SK ratchet, could be because as a kid there were several old worn out sloppy ones I had to use, but I just avoid them.
SK has had several owners over the years Ideal saved them from bankruptcy in 2010.

SK invented the round-head ratchet wrench in 1933 and received a patent for it the following year,[4] which remains a mainstay of their, and every major competitor's product line today.

In 1962, SK, along with manufacturing partner Lectrolite Corp., of Defiance, Ohio, was bought out by Symington-Wayne and became SK Wayne.

In 1968 S-K Wayne was purchased by Dresser Industries as part of the merger between Wayne Oil and Tank Company and Dresser Industries. Dresser Industries made many changes to S-K's tools including dropping the cross-hatch pattern from their sockets in order to 'modernize' them.

In 1985, SK became part of the French company Facom Tools. In 2005 it was purchased by its management and again operated independently as the S-K Hand Tools Corporation.[3]

On June 29, 2010, the company declared bankruptcy.[5] On August 23, 2010, it was announced that two days later, on August 25, 2010, Ideal Industries would acquire SK.

According to Dunn and Bradstreet they have 15 employees and 4.35m in sales..........
So are they still a manufacturer or a rebrander under Ideal?

Sk Hand Tool LLC is located in Sycamore, IL, United States and is part of the Handtool, Cutlery, & Flatware Manufacturing Industry. Sk Hand Tool LLC has 15 total employees across all of its locations and generates $4.35 million in sales (USD). There are 38 companies in the Sk Hand Tool LLC corporate family.

https://www.dnb.com/business-direct...d Tool LLC has,Hand Tool LLC corporate family.

 

[sk farmer]

Power tools are the same. Dewalt has invested heavily in US assembly, but Milwaukee, which is almost all imported, gets a pass from the “I want USA” cloud.

not from me. i am pretty open about a lot of things but i am in the never anything milwaukee camp.

 

[M635_Guy]

Hmmm...

I bought a set of the XFrame wrenches during the CyberMonday sale, and they arrived kinda blemished. Most of them have some sort of etching/halo effet in the chrome that doesn't wipe away:

They immediately sent me a label and said they'd replace the set once mine arrived, but I asked if they'd let me just return them and I'd buy a new set at the same price. It's been crickets for over a week (I did send a quick reminder), and now I wish I'd just sent them back. I could buy the set again for the same price with my "birthday" coupon.

I don't actually demand my tools be pretty, and I wanted/asdked was to make sure that if the finish started to fail it was covered under the warranty/etc.

 

[Rinspeed]

According to Dunn and Bradstreet they have 15 employees and 4.35m in sales..........
So are they still a manufacturer or a rebrander under Ideal?

Those numbers don't make any sense even if they were from three years ago. I know local gas stations that have 15 employees.