Ideal Industries Inc., Sycamore, Ill., has agreed to acquire Pratt-Read, Shelton, Conn., the third-largest manufacturer of screwdrivers in the United States and one of the country's oldest companies. The acquisition follows on the heels of Ideal's acquisition in January of Colorado Springs, Colo.-based Western Forge, a manufacturer of pliers, screwdrivers and adjustable wrenches. The two additions to Ideal's lineup are significant expansions of the company's hand-tool offerings as well as providing Ideal with additional U.S.-based manufacturing capacity.

Founded in 1798, Pratt-Read manufactures screwdrivers, which it sells to a wide range of customers under its own brand name and produces screwdriver parts for other tool manufacturers, including Stanley, Snap-On, Danaher, Klein and, until last year, Sears. Pratt-Read started out making buttons, beads and billiard balls in Ivoryton, Conn., then expanded into piano keys and pianos before it started making screwdrivers in 1834. During World War II, the company also produced military gliders while continuing to produce screwdriver blades and handles for smaller manufacturers. Since Pratt-Read's 2005 acquisition of American Industrial Manufacturers, the company has manufactured a complete line of screwdrivers, handles, blades and bits at production facilities in Shelton; Pottstown, Pa.; and Beloit, Wis.

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