Turtle & Hughes was incorporated on January 29, 1923
and continues to be privately held. In 1975, an employee stock
ownership plan (ESOP) was established, and today there are
225 employee shareholders owning 32.5% of the corporation's
Currently, 60% of the common stock is owned by women,
and the company is certified as a women-owned business enterprise
(WBE) by the states of New Jersey, New York, Pennsylvania,
and Texas. It is ranked among the top 50 women-owned business
enterprises in the U.S.
In 1993, the company began a major
diversification effort into integrated supply, offering multiple commodities
to provide industrial plants with a low-cost, single source
for a broad range of industrial MRO products to facilitate
their vendor reduction programs.
This diversification was
accomplished through an aggressive acquisition strategy, starting
with Siliter/Klebes Supply Co. and Lindquist Industrial Supply
Co., both in Connecticut. Then in 1995, Schlecter Industrial
Supply was acquired in New Jersey.
In 1999, the company continued
its expansion by acquiring Gulf Coast Supply in Texas.