Toolmaker Marshalltown acquires Wal-Board Tools
BUSINESS RECORD STAFF Oct 3, 2022 | 7:37 pm
1 min read time208 wordsAll Latest News, Manufacturing & Logistics
Central Iowa-based tool manufacturer Marshalltown has acquired Wallboard Tool, the Long Beach, Calif.-based drywall tools maker of the Wal-Board Tools brand. The financial terms of the deal were not disclosed. The purchase, which will result in the creation of 200 additional jobs between Marshalltown’s facilities in Marshalltown and Fayetteville, Ark., marks the largest acquisition in the company’s 132-year history. “Wal-Board Tools has been a worthy competitor for more than 75 years,” said Joe Carter, president and CEO of Marshalltown. “We’ve joined forces to provide our customers with the broadest assortment of the highest-quality and most innovative drywall tools in the world.” Marshalltown, which opened a 60,000-square-foot expansion of manufacturing space at its Marshalltown headquarters earlier this year, plans to integrate about 300 Wal-Board products into its existing catalog. Marshalltown manufactures construction tools and equipment in various industries, including concrete, masonry, asphalt, flooring and painting; it introduced its drywall tools in the late 1960s. “It’s a joyful day for me,” said El Jensen, vice president of customer relations for Wal-Board Tools. “Marshalltown is committed to the future and positioned for growth. We couldn’t be going to a better company.” Jensen, who earned the moniker “Mr. Drywall” during his 60-plus years at Wal-Board Tools, is considered a top industry expert.