New Owners Purchase 44 Tools and Performance Auto SpaJuly 5th, 2018 by Tara Taffera
Performance Tool Distributing (PTD), known as 44 Tools and Performance Auto Spa (PAS), has two new owners. Bill Valway, owner of AP Corp., of Sykesville, Md., and Bo Ryan, president and chief operating officer of 44Tools, have joined together to purchase PTD of Plain City, OH. The two purchased the company from owner, George Lewis, and have formed a new umbrella company called Applied Performance Group LLC (AP). AP’s umbrella includes Performance Auto Spa and 44Tools.
Valway is extremely excited about this new venture and about partnering with Ryan, an expert in distribution.
“I am very fortunate to have someone like him and he will be leading 44Tools and that Ohio location,” said Valway.
Ryan, who has been with the company for 20 years, said the timing is now right for him to take on this new venture and is most excited about taking it on with Valway.
“The timing is right with George getting ready to move into the next area of his life,” said Ryan.
“I am probably most excited about working with Bill and those guys as they bring a fresh set of resources to the table that we can utilize to help grow the business. He brings things that complement me and vice versa, and our combined skills will enable us to do a lot of different things.”
The two owners have big plans for 44Tools.
“I am a window film guy and I know what gaps there are in the industry and my goal with 44Tools is to create a company that can support the industry,” he says. “I want to give them not only the physical tools but a knowledge base to help them grow their businesses …. I’ve been working to try to figure out a way to give back to the industry and this is a perfect vehicle for that.”
This can take the shape of training, and the Ohio facility is set up perfectly to offer various types of educational opportunities. The 27,000 square foot building includes the auto spa side and the tool and distribution side. The building has two floors, with a large open meeting room and installation area on the main floor.
“We are very excited to move this company forward,” said Valway. “44Tools is arguably the largest retailer of window film tools in the country. They also distribute internationally for a lot of other manufacturers … so we have a wholesale business that sells directly to manufacturers and distributers across the globe. And they’ll sell our products and tools across the globe as well.”
Current employees at the Ohio facility are just as excited about the new venture.
“From the first time I met Bill, I noticed how he thinks outside the box and sees the big picture,” said Tim Neely, vice president of sales and marketing. “We have been the leader in tools but now we can be an innovator in this segment as well … The new leadership will take us from an industry leader to an industry innovator.”
Valway made the announcement on Facebook and offered a live tour of the building and shared various details regarding the new venture which may be viewed here. https://www.facebook.com/BillValway/videos/10211380938185544/