FinishPro Tools LLC announced that it has acquired the Goldblatt and Pacesetter brands from the Stanley Works. Terms of the transaction were not disclosed. Stanley originally acquired Goldblatt in 1992 and later moved it out of Kansas City, where it originated in 1885. Goldblatt is a renowned brand in the trowel trade industry and has been providing professionals with tools for more than 120 years.

"This industry space needs the Goldblatt brand and we're ecstatic about the chance to put our muscle behind re-invigorating it," commented Scott Murray, the managing partner of the ownership team.

The new Goldblatt Tool plans to add items back into the product line and bring innovation to the category. The company plans to expand on the brand's core tools, strengthening and maintaining its industry-leading position.

"(The) trowel trade are not at the core of our strategic business focus at Stanley and we wanted the brand to be in the hands of an organization that will make it central to their growth strategy," said Scott Bannell, vice president of Branding and Licensing for Stanley Works. "We felt FinishPro would take Goldblatt back to the roots of its success and provide the high level of customer satisfaction that the brand was built upon."

Goldblatt will be based out of Lenexa, Kan. The company is in the process of expanding its operations to accommodate the transition of product distribution, customer support and operations.