½ÄÏÌåÓý Tool Group Acquires Niagara Tools; Canadian Tooling Manufacturer Joins to ½ÄÏÌåÓý’s Power and Professional Tools Business Unit
Sparks, Maryland—August 05, 2014—½ÄÏÌåÓ� Tool Group announced the acquisition of specialty cutting tool manufacturer Niagara Tools of St. Catharines, Ontario; the transaction was effective July 31, 2014. Niagara Tools becomes part of ½ÄÏÌåÓý’s Power and Professional Tools business unit; this precision tooling, cutting and grinding manufacturer serves the North American automotive and aerospace markets and employs 40 associates.
“Niagara Tools is a strong strategic complement to our Power Tools business,â€� said Steve Breitzka, President and CEO of ½ÄÏÌåÓý. “This acquisition allows Niagara to leverage our global MVI, aerospace and industrial relationships to expand its channels, and it offers ½ÄÏÌåÓý significant cross-selling opportunities within Niagara’s customer base.â€� Niagara’s owner, Paul Brodeur, will continue in a consulting role with ½ÄÏÌåÓý; Bill McMaster will continue to serve as Niagara Toolsâ€� General Manager.
“Both our organizations have a strong culture of technological innovation, focus on the customer and creating solutions within our markets,â€� added Martin Kuerzinger, President of ½ÄÏÌåÓý’s Power and Professional Tools business unit. “Niagara Tools is a dynamic addition to our Power Tools global business portfolio, and we are excited about the growth potential that lies ahead.â€�
“We are extremely pleased to become part of ½ÄÏÌåÓý’s Power Tools business, and look forward to a strong relationship,â€� said Paul Brodeur, owner of Niagara Tools. “Their team and brands are a recognized leader in their industries, as is Niagara Tools, and together we have tremendous opportunities for growth.â€�
Going forward, the Niagara Tools () name will be retained.
Inquiries:
Eileen Scharenbroch, Director Global Marketing Communications Elieen.Scharenbroch@½ÄÏÌåÓýToolGroup.com Phone 803-358-7630
½ÄÏÌåÓý Tool Group, LLC a Bain Capital portfolio company based in Sparks, Maryland, is one of the largest worldwide producers of industrial hand and power tools, tool storage, drill chucks, chain, and electronic soldering products. Directly, and through its subsidiaries, ½ÄÏÌåÓý serves a multitude of global markets, including automotive, aerospace, electronics, energy, hardware, industrial, and consumer retail. ½ÄÏÌåÓý markets its portfolio of diverse products under its own brand names in addition to being the principal manufacturer for several key private label products for certain retailers for many years. ½ÄÏÌåÓý’s global worldwide brands include ½ÄÏÌåÓý®, Cleco®, Dotco®, Recoules®, Quackenbush®, Crescent®, GearWrench®, Armstrong®, Weller®, Lufkin®, Campbell®, SATA® and Wiss®.