We have received reports that Marshalltown has saved Vaughan and Bushnell hammer and striking tool company.
Marshalltown officially announced they have “acquired the assets” of Vaughan. According to news stories, the Vaughan factory will remain open, and all employees will be retained.
One month ago, it was reported that Vaughan was going to close their USA factory, with the blame resting on “a failed buyout” by Marshalltown.
Advertisement
A local news report (via WGEM) said that Marshalltown was $500,000 short of the $5 million needed for the acquisition, and that’s why they backed out last month. The most recent news (via WGEM) says that “the City of Bushnell is offering a $500,000 utility credit as one incentive” and that the local economic development corporation might be able to get more support from the state.
It seems that the additional monetary incentives encouraged Marshalltown to reconsider and reverse their decision to back out from the acquisition.
In the official announcement, Marshalltown’s President and CEO provided the following statement:
While it’s clear the work has only just begun, I’m confident—with the amazing employees at VAUGHAN and the community of Bushnell’s support—we can rebuild the incredible VAUGHAN brand and, ultimately, grow!
The entire situation is very fuzzy.
When I contacted Vaughan to confirm news of their reported closing, I was told:
Advertisement
We are hoping to find out more details soon, but at this time, I do not have any more information than what you already heard.
At the time, news reports referenced an announcement I could find no evidence of, and a job fair “strictly for Vaughan employees” that I also could not verify.
News reports said that Marshalltown backed out of the agreement to acquire Vaughan because they lacked the capital to purchase the plant. They also told a local channel, regarding their purchase of the Vaughan brand and plant, that “the timing just wasn’t quite right.”
Marshalltown has not released any details as to if or how they will invest in Vaughan to “rebuild” the brand.
One month after reportedly backing out from the deal, Marshalltown was able to follow through with the acquisition after all, the company’s assets changed hands, the Vaughan hammer factory remains open, and the brand will live on.
Thank you ITCD for the info!
Leo B.
Good to hear! The best wood handled hammers are from Vaughan. I’m glad they’ll remain an option. Hopefully someone starts production at Dalluge again as well. Their 21 oz hammer is the gold standard.
IronWood
Love my Vaughan 99 and 999!
Lance
I love my 16oz Daluge Titanium wood handled framer. Gotta keep the screws tight, but otherwise is a real pleasure to use!
eddiesky
Hammertime!
ok. I’ll leave…
AC
Can’t touch that… 😄
J.C.
Definitely glad to hear this
Kyle
I really hope they make can make a deal to save the best parts of the company. It seems to me like the manufacturing capabilities and product lines that Vaughan has could be a good complement to Marshalltown. Perhaps being part of a larger company could help Vaughan cut down their overhead to improve margins and give them more leverage with staying on shelves at major retailers that carry Marshalltown products (including Lowe’s and Home Depot). They might reallocate some capacity to making other products in the Marshalltown line too. Some product lines and people may go, but it’s better to be a healthy division of a larger company that can profitably make a few good products than close up for good.
ITCD
Obviously I, like probably everyone here, don’t have the old fly on the wall view of the goings on. But I did poke around some Facebook comments on an article about their closing that was floating around, and there were a few current and former employees who had popped in to speak their piece and a common theme seemed to be dissatisfaction with the then-owner of the company. Obviously they could be legitimate criticisms or just headcanon people make up to have someone to point a finger at, so don’t take their claims as gospel, but some of the things I recall seeing in there:
– Mentions of how he wasn’t friendly like the previous owner. Kinda blew people off.
– Claims that he wasn’t showing up to meetings.
– Claims that he is “living the high life in Chicago and isn’t even here to see things most days,” which may tie into the allegation about not attending meetings.
– A guy who allegedly offered to help them set up GSA so they could start pushing sales to Fed, and then allegedly was told they don’t need the Fed’s business or something along those lines.
A lot of disgruntlement in there. Hopefully the turnaround on their fortunes will assuage that as well as having new management, if management and the ownership in particular was causing trouble.
fred
I had thought that it had been a family-owned business stretching back 5 generations or more – stretching back to its founding by Alexander Vaughn in 1869. A Wikipedia article says that the Bushnell family interests in the business were bought out by the Vaughan’s in 1922. In 2018 Vaughn acquired Dasco Pro.
Having been involved with buying out shares of a family-owned business I know about some of the pitfalls. It is said that most such businesses don’t survive after the third generation from the founder. So, Vaughn’s survival into the 5th generation was remarkable.
Since it was a privately held business – it is hard to know what their revenues and profits were like over the last few years. Harder yet to tell what family members or owners were drawing salaries and to what extent those were eating into profits. If Marshalltown was willing to pay $4,5 million – I suspect that they thought that the business could be made to produce profits of at least half that amount per year. Hammers (Vaughan) and Chisels (Dasco) are not likely to have been viewed by Marshalltown as growth businesses – but rather as an opportunity to flush out their “trowel-trades” lineup.
Joe H
Good thing they didn’t have to nail down their own coffin with their own hammers.
fred
Does Marshalltown get ownership of Dasco (a Vaughan subsidiary) as part of the purchase?
Stuart
The official announcement says “all of Vaughan & Bushnell Manufacturing Co assets.”
https://www.maedco.org/wp-content/uploads/2024/05/Vaughan-Marshalltown-Press-Release-PDF.pdf
It references Dasco as being acquired by Vaughan. I’d say its purchase is implied.
That’s not always the case, such as when Easy Wood was not part of Pony’s acquisition by Greatstar. But I haven’t seen anything to suggest that Dasco wasn’t part of the arrangement.
fred
Thanks
Scottie
Good to hear about this and hope Vaughan stays afloat…I just used one of my Vaughan “Superbars” today as a matter of fact.
JR Ramos
Hey that’s great news! I hope!
Nathan
I had to look up Marshaltown. Never heard of or noticed that name seems like a good alignment on the made in us quality tool front
And now I have a brand in might when I do brick repair this fall
Robert
They make great stuff.
Dan
This is some nice news to cap off the week. I was saddened to hear about the probable closing. I love my Vaughan hammers and bars. I’m even happier to hear that they were bought by Marshalltown and not the Chinese or some investment company.
PW
This is very heartening news! I really hope this tie-up works out!
Pablo
This news makes me happy. I’m so glad to hear a quality US manufacturer is sticking around.
Al
Many decades ago, I was advised on what tools to buy for an archaeology dig site. Don’t buy the cheap stuff. Buy a Marshalltown trowel and wear it down to a nub.
I mosied up to the group with my brand new margin trowel tucked into my belt, figuring I looked just like the old-timers. Everyone laughed. It was really bright and shiny and sharp.
I had to rub it and roll it around in the dirt so I wouldn’t look like such a noob.
That was over 30 years and a few digs ago. It’s still in my garage somewhere, with a respectable patina.
Koko The Talking Ape
Glad to hear it. Bushnell looks like a damn cute town.
John Fuller
Dropped on this article by accident Marshalltown are well regarded here in England majority of bricklayers use their products.
Neighbor Joe
This is the first step in many to come to save a failing brand. Good luck. I like my Vaughan tools. The product has good service reliability. Hoping they have a good moving forward plan and capital to make it happen.
Jimmy
Calling for Eric Smidt at Harbor Freight to come out with Icon Brand Vaughan made in USA ball pein hammers!!!