Platinum Equity has agreed to acquire Oregon Tool from American Securities and P2 Capital. The latter two companies have owned Oregon Tool (previously known as Blount Inc.) since taking it private in 2016. The transaction is expected to be completed in Q4 2021.
“Oregon Tool is an outstanding platform that operates in a large and highly fragmented market,” says Platinum Equity managing director David Glatt. “In addition to nurturing the company’s existing portfolio, we will pursue an aggressive strategy to expand in adjacent product categories across segments, channels and geographies.”
Oregon Tool CEO Paul Tonnesen will continue to lead the company following the transaction.
“We’re grateful for American Securities’ and P2’s investment in Oregon Tool, which has helped us accomplish many of our aggressive goals ahead of schedule,” says Tonnesen. “We also view the sale of our company to Platinum Equity as evidence of the successes we’ve achieved in recent years. We are very excited for what’s next, and we know that Platinum’s investment will propel our growth and innovation, strengthen our position as industry leaders, and continue equipping our pro and DIY customers with the products they need to get the job done.”
Blount Inc. rebranded as Oregon Tool in June 2021.
“Oregon Tool has a well-deserved reputation for quality, innovation and engineering that dates back nearly 75 years,” says Platinum Equity partner Louis Samson. “We are committed to building on that legacy and working with the management team to invest in a new generation of growth and expansion. We have a lot of experience helping companies like Oregon Tool take the next step and our financial and operational resources will accelerate their efforts.”
Platinum Equity, founded in 1995, is a global investment firm with a portfolio of approximately 40 operating companies. In June 2021, the company acquired Club Car from Ingersoll Rand.