A long-standing and prosperous business relationship moved to the next level on January 1 when FASTORQ, a pioneer of the hydraulic tool industry, purchased ZipNut Technology, LLC.
Prior to the sale, the Houston-based FASTORQ incorporated and patented ZipNut Technology into many of its tools and was the exclusive manufacturer of ZipNut Technology for the energy industry.
“We are all excited to have the opportunity to continue to spread the word about ZipNut,” states Bill Washington, FASTORQ Director of Business Development. “We think it is fantastic technology. Some of the best applications for ZipNut are yet to come.”
ZipNut Technology products were first used on the 1989 NASA Space Shuttle and became such a success on the mission they were later used on the International Space Station and for repair of the Hubble Space Telescope. Since that time, ZipNut technology has brought innovation to several industries in addition to aerospace, including fire and rescue, industrial, commercial, medical and energy.
In late November, ZipNut Technology, LLC’s managing partner, Hank Hulme, passed away. For many years, Hulme played a critical role not only in the development of the technology but also in making ZipNut Technology, LLC a successful enterprise. Hulme’s well-established and strong relationship with FASTORQ led to the acquisition.
The company will now operate as ZipNut, a FASTORQ company, and move from its original location in Falls Church, Va., to the FASTORQ headquarters in Houston, Texas. The purchase of the company brings with it three ZipNut Technology licensees – Power Hawk Technologies, Inc., ESI Equipment, Inc. and Superior Products, LLC.
FASTORQ is a company dedicated to staying on the cutting edge of bolting technology through their design, manufacture and sale of innovative hydraulic, mechanical and pneumatic precision bolt installation and removal tool