The Eastwood Company, which is backed by Kian Capital, has acquired Yost Vises, a provider of vises. No financial terms were disclosed. NuVescor Group acted as financial advisor to Yost Vises on the deal.
ATLANTA, GA and CHARLOTTE, NC (July 14, 2021) The Eastwood Company (“Eastwood”), a leading e-commerce provider of branded professional-grade automotive tools, equipment and supplies to the Do-It-Yourself (“DIY”) automotive enthusiast community, completed the acquisition of Yost Vises, a specialized provider of high-quality vises.
The Yost Vises brand has a 100-year-old history as an industry-leading provider of rugged, durable and dependable workholding tools sold at DIY price points. It offers a range of bench vises, drill press vises, woodworking vises and clamps and accessories sold via e-commerce to automotive enthusiasts, metalworkers, woodworkers and other DIYers and hobbyists.
“Like Eastwood, Yost Vises is a storied company with a loyal following and we are excited to welcome the brand into the Eastwood family,” commented Brian Huck, CEO of Eastwood. “Vises are an essential device in the arsenal of tools that our customers need to finish their DIY project and do the job right. The Yost Vises acquisition offers us another high-quality product line that complements our existing capabilities and enables us to continue providing a broader set of solutions to our customers.”
Yost Vises has been owned by the Nelis family for more than four decades, over which time they have grown the brand, innovated within the category and built a strong reputation for quality and customer service.
“Yost Vises has been owned by our family since 1979, and we were very selective with potential buyers during this process,” said Pat Nelis, Co-Owner at Yost Vises. “Eastwood was the ideal fit for Yost Vises, and we are confident that Brian and his team will uphold its high standards of quality and service and be great stewards of its legacy.”
Kian’s continued progress with buy-and-build strategies at its three automotive aftermarket platform investments reinforces the firm’s focus on investing in branded/enthusiast DTC companies with a differentiated strategy, a robust e-commerce presence and superior product lines that result in a highly engaged customer base.
“Since we’ve partnered with Eastwood, a key component of our strategy has been acquiring other niche leaders to boost our position in the automotive tool and equipment market specifically for enthusiasts,” added Kian Vice President Caldwell Zimmerman. “We see tremendous synergies between these two companies and are thrilled about the complementary products and incremental growth opportunities that we are gaining with this transaction.”
NuVescor Group acted as financial advisor to Yost Vises. Robinson, Bradshaw & Hinson, P.A. acted as legal advisor to Eastwood.
About Kian Capital Partners
At Kian, we forge partnerships to ignite growth and build enduring value. Our goal is to provide flexible financial resources and additional operational horsepower to scale middle-market businesses, realize aspirations and deliver long-term investment returns through genuine partnership. Our team of seasoned investors has over 80 years of collective experience providing transformational capital solutions and board-level strategic and operational guidance to founder/owner operated businesses. Kian is a private investment firm with $425 million of capital under management and a focus on four core industry sectors: consumer, services, specialty manufacturing and value-added distribution. To learn more, visit www.kiancapital.com