General Tools & Instruments, a portfolio company of High Road Capital Partners, has acquired the assets of Kingston, Washington-based PacTool International, a maker of siding tools and gauges, specialty hand tools, cutting tools and blades. No financial terms were disclosed.
NEW YORK, November 28, 2017 – High Road Capital Partners (www.highroadcap.com) announced today that its portfolio company General Tools & Instruments (General Tools) has completed the acquisition of the assets of PacTool International.
Based near Seattle, Washington, PacTool International designs and manufactures siding tools and gauges, specialty hand tools, cutting tools and blades used to cut and install fiber-cement siding, wood shingles and other exterior siding and cladding materials.
PacTool’s products are used in construction, renovation and remodeling, and its products include the patented Gecko Gauge, which holds fiber-cement siding in place during installation and can reduce labor requirements by half; Snapper Shears, a collection of dust-free cutting tools; and the Roof Snake nail puller and shingle replacers.
“The acquisition of PacTool strengthens General Tools’ market position as a leading provider of specialty tools and instruments. PacTool’s innovative niche exterior construction tools are an ideal complement to General Tools’ portfolio of precision hand tools and instruments, which are used by DIYers, tradesmen, and craftsmen, almost exclusively for interior applications,” said Jeffrey Goodrich, Partner, High Road Capital Partners. “In addition, fiber-cement siding has several advantages over competing products and sales are growing faster than the overall exterior coverings market.”
“We’re excited for the tremendous opportunity to introduce PacTool products into our extensive distribution channels,” said Ralph Mallozzi, President and Chief Executive Officer, General Tools & Instruments. “And the interior and exterior construction professionals, renovators and remodelers who rely on PacTool’s products will gain access to General Tools’ exceptional knowledge base and broad portfolio of award-winning products.”
General Tools & Instruments’ acquisition of PacTool International closed November 22, 2017. Transaction consideration was not disclosed. Mr. Goodrich led the transaction for High Road and was assisted by Eojin Lee, Vice President, and James Karle, Senior Associate. Twin Brook Capital Partners provided financing for the transaction. High Road was advised by Jones Day. Seattle-based Murphy Business Brokers, together with Business Transition Advisors, advised the sellers.
General Tools & Instruments was acquired by High Road in 2014.
High Road Capital Partners has completed 45 transactions – 17 platform investments, 22 add-on acquisitions and six exits – since its founding in 2007.
For further information, please contact Jeffrey Goodrich of High Road Capital Partners at (212) 554-3268.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on smaller middle market transactions. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Once acquired, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
PacTool International, which was founded in 1994, is the leader in designing and manufacturing specialized hand tools for fiber-cement siding, cement board, and roofing and shake shingle installation in residential and commercial buildings. PacTool is headquartered in Kingston, Washington. www.pactool.us
General Tools & Instruments
Founded in 1922, General Tools is a recognized leader in the design and development of precision tools. With more than 1,200 products, including specific-purpose hand tools as well as precision measuring and inspection tools, General Tools remains committed to delivering exceptional customer service to professionals, DIYers and hobbyists around the world. General Tools & Instruments is headquartered in Secaucus, New Jersey. www.generaltools.com