General Tools Acquired by High Road Capital Partners
General Tools & Instruments 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.
For more than 90 years, General has been a mainstay in the precision specialty hand tools market and—through a range of its own product advancements and corporate acquisitions—grew to establish itself as a leader in handheld test instruments. The company offers a broad portfolio of products used across multiple end markets, serving professionals as well as hobbyists and DIYers.