Keith McAslan, Managing Partner of McAslan Consulting, was instrumental in the successful sale of Western Forge to Ideal Industries. As the interim CFO, McAslan having both CFO and private investment transaction experience, guided the management team through the sale and due diligence process completing the sale from prospective buyer presentation to close within 60 days.
Ideal Industries Inc. agreed to buy the Colorado Springs-based Western Forge from MW Universal Inc. just two years after MW paid $40 million for the hand tool manufacturer. Sycamore, Ill.-based Ideal was founded in 1916 and has grown into an international manufacturer and distributor of connectors, testing equipment, tools and supplies mostly for the electrical, communications and data transmission industries. The privately held company employs 1,200 worldwide. Western Forge makes screwdrivers, pliers, punches and other hand tools for a variety of major retailers including Sears and Home Depot. The company was founded in 1965 in Defiance, Ohio, and moved a year later to Colorado Springs.
