General Tools Is Acquired by High Road Capital Partners
General's leadership team will remain in place.
General Tools & Instruments (General) has been acquired by High Road Capital Partners, a private equity firm based in New York City. The deal closed on February 4, 2014. General’s CEO and senior management team remain at the company’s helm.
“General remains focused on providing its customers with feature-rich, value-oriented specialty hand tools and test instruments,” said CEO Joe Ennis. “We look forward to working with High Road and continuing the company’s successful expansion.”
The investment by High Road will enable General to accelerate its growth, taking the company’s longstanding tradition of “Precision, Specialty and Innovation” to the next level with increased product development and distribution, and new synergies across the board.
High Road Partner Jeff Goodrich said, “Together with General’s outstanding management team, we plan to pursue both organic growth initiatives and add-on acquisitions.”
Several factors played a role in attracting High Road’s investment.
“General Tools & Instruments is a third-generation, family-run company with an enviable customer base, a trusted brand name and high-quality products. It has a solid position as a leading provider of specialty hand tools and instruments across multiple industries,” said Goodrich.
About General Tools & Instruments
Headquartered in New York City since 1922, General’s line includes over 1,500 precision tools and hand-held instruments used by contractors, professionals, technicians, DIYers and hobbyists in a broad range of industries. To learn more about General Tools & Instruments and its products, visit www.generaltools.com or call Customer Support at 1-800-697-8665.
About 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 currently manages over $470 million of committed capital. High Road focuses on niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. More information on High Road may be found on its website, www.highroadcap.com.
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