Platinum Equity, a global investment firm with more than $25 billion in assets under management, announced that its acquisition of Oregon Tool has been completed.
Oregon Tool is a global manufacturer and distributor of aftermarket-driven professional grade cutting tools, outdoor equipment accessories and parts.
Financial terms were not disclosed.
Oregon Tool is the world’s leading manufacturer of saw chain and guide bars for chainsaws, and a leading manufacturer of lawn mower blades, agricultural tractor attachments and a broad range of other products used by professionals and consumers in the forestry, lawn and garden, and agricultural end markets, Platinum Equity said.
Oregon Tool’s products are sold into the aftermarket through multiple channels, including distributors, dealers, mass merchants and e-commerce, including original equipment manufacturers for “first fit” use on new equipment, the firm said.
Paul Tonnesen will remain as Oregon Tool CEO.
“For nearly 75 years, Oregon Tool has earned its reputation as a global leader in precision cutting tools through hard work, innovation and a commitment to the highest quality standards,” Platinum Equity Partner Louis Samson said. “We are excited to work with Paul Tonnesen and the company’s management team to invest in a new generation of growth and expansion.”
Latham & Watkins LLP acted as legal advisor to Platinum Equity on the acquisition.
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