Speedtech Acquires Toleeto Fasteners International
(January 11th, 2021, RACINE, WI) —Speedtech International, Inc., the manufacturer of SPEEDWRAP® Hook & Loop Products, Specialty Fasteners, and Authorized Distributor of VELCRO® Brand Products has acquired Toleeto Fasteners International located in San Diego, CA. With their expertise custom fabricating webbing, neoprene and hook & loop, Toleeto Fasteners International will dramatically increase Speedtech’s capabilities, services, and geographical footprint.
Providing strapping and custom fasteners since 1985, Toleeto Fasteners International manufactures the line of Cord-Lox® Cable Wraps, Rack-ups® and the Coil’n’Carry® adjustable handle straps. These hook & loop fasteners have become a popular reusable-fastener for bundling cables in the professional sound & lighting, motion picture, telecommunications, and photography industries.
While musicians and consumers may know Toleeto’s brand of Cord-Lox® Products, the company is best known in the Industrial Marketplace as a custom manufacturer of textile products for the Medical, MRO and Audio/ Video Industries. Leveraging their expertise with die-cutting, ultrasonic welding, and industrial sewing, Toleeto Fasteners makes everything from pet leashes, to custom strapping for telecom equipment, to sports accessories. In addition, they also manufacture specialized medical products that hold tracheostomy tubes on premature infants, head straps for brain monitoring devices, and gurney straps.
Speedtech International’s President Chris Karnowski explains,
“Speedtech’s manufacturing strength is fabricating hook & loop materials, especially VELCRO® Brand ONE-WRAP® Fasteners. For most of the SPEEDWRAP® Brand Products and what we custom fabricate for our customers, we rely on cutting, slitting and welding. With the acquisition of Toleeto, we now have instant expertise of high quality industrial sewing and other types of die-cutting and printing on VELCRO® Brand Material. We’ve essentially doubled our manufacturing capability with highly skilled experts now all under one umbrella.”
The combined companies also intend to expand upon Toleeto’s manufacturing expertise of non-hook and loop materials. This expertise includes custom fastening solutions using webbing, neoprene and foam laminates.
Impact on Speedtech’s Distribution:
Speedtech also sees this merger as a big win because authorized SPEEDWRAP® Distributors and Resellers can now offer their customers Toleeto products, services and capabilities. Steve Pope, Speedtech’s Vice President adds, “Distributors like Fastenal want to serve as much of their customers’ fastener needs as possible. With our acquisition of Toleeto Fasteners, we can better arm Fastenal Sales Representatives and the sales teams at our other Resellers.”
Speedtech’s Distributors can now offer new capabilities like high quality textile sewing, unique materials, and more custom printing services on the custom manufacturing side as well as an expansion of our existing line of SPEEDWRAP® Brand Fasteners. Pope concludes, “Our Resellers now have a larger toolbox to draw from when serving their customers.”
Market Expansion:
With the Toleeto acquisition, Speedtech has expanded upon the industries they serve. Currently, Speedtech’s largest market channels are Industrial OEMs, Network Cabling and Maintenance, Repair and Operations. While Toleeto primarily serves the Pro Audio/ Video and Medical Markets.
To stay informed about additional news about this Speedtech & Toleeto, new Product News and more- sign up for our Newsletter Today.
Geographic Expansion:
The partnership between the companies will better serve North America. While both companies currently have customers Worldwide, Speedtech may use Toleeto’s San Diego Factory to provide added value and responsiveness to the West Coast. Karnowski explains, “Through our Distribution Network, we service customers like Google, Facebook and large Datacom Centers in the West and Southwest. We will leverage our new presence in California to better serve and support these customers.”
VELCRO® Brand Fastener- Distribution:
Geographic benefits of Toleeto’’s California location also creates opportunities for Speedtech’s Authorized Distribution of VELCRO Brand Products. Pope explains,
“We hope to expand upon our relationship with VELCRO Companies, by serving customers located on the West Coast and the Southwest US with VELCRO® Brand Products & our Customization Services including printing on VELCRO Brand Materials.”
Brief History: Speedtech International, Inc.
Speedtech is the manufacturer of SPEEDWRAP® Brand Fasteners and an Authorized Distributor of VELCRO Companies. The company focuses on Fasteners made from Hook & Loop Materials and other specialty fasteners. These products help to bundle, band, route, organize or identify cables, hoses or cords. While Speedtech’s products are best known for Cord & Cable Management, the company offers solutions for material handling, maintenance applications and more.
Brief History: Toleeto Fasteners, Inc.
Toleeto Fasteners International started in a garage in 1985, with one product model in the Cord-Lox® product line. After display at the NAMM Show in Anaheim,CA in 1986, they quickly developed several additional models of Cord-Lox, including Rack-ups® and Coil’n’Carry®. The company expanded into the retail music industry Worldwide and were soon approached by several companies to develop and manufacture OEM straps for a wide variety of industries.
Dave Deavenport, President of Toleeto Fasteners concludes,
“We are not only excited to gain direct access to markets and customers Speedtech serves, but to also offer Toleeto’s existing customers, SPEEDWRAP® Brand Fasteners and Speedtech Manufacturing Expertise. This is definitely a win-win for everyone!”
To learn more about the how these combined companies can serve your fasteners needs or to inquire about becoming an Authorized Distributor, please contact us today.
To stay informed about additional news about this Speedtech & Toleeto, new Product News and more- sign up for our Newsletter Today.
VELCRO®, ONE-WRAP® and VELSTRAP® are registered trademarks of Velcro BVBA. Used with permission.
SPEEDWRAP®, CORD-LOX® , Rack-ups® and the Coil’n’Carry® are trademarks of Speedtech International, Inc.
