Investment firm Platinum Equity has announced that its acquisition of Oregon Tool has been finalized. Platinum Equity announced in July of this year that it agreed to acquire Oregon Tool from American Securities and P2 Capital. Financial terms were not disclosed; Oregon Tool CEO Paul Tonnesen remains CEO and will continue to lead the company.
“Oregon Tool has outstanding leadership, a passionate culture and a strong commitment to serving its customers and the communities in which it operates,” says Platinum Equity managing director David Glatt. “Its global distribution network spans more than 110 countries and makes it an attractive platform for additional growth, both organically and through new acquisitions in adjacent product categories, segments, channels and geographies.”
Oregon Tool employs more than 3,200 people and sells thousands of products in more than 110 countries under multiple professional and consumer brands including Oregon, Woods and ICS. Earlier this year, the company rebranded from Blount International to Oregon Tool.
“We are excited to start the next chapter,” says Tonnesen. “Platinum’s investment and operational expertise can help accelerate 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.”
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.
Platinum Equity partner Louis Samson adds: “For nearly 75 years, Oregon Tool has earned its reputation as a global leader in precision cutting tools through hard work, innovation and a commitment to the highest quality standards. We are excited to work with Paul Tonnesen and the company’s management team to invest in a new generation of growth and expansion.”