Platinum Equity acquires Oregon Tool
Platinum Equity has completed its acquisition of Oregon Tool, a global manufacturer and distributor of aftermarket-driven professional grade cutting tools, outdoor equipment accessories and parts. Financial terms were not disclosed.
Oregon Tool manufactures saw chain and guide bars for chainsaws, and is a 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. Its products are sold into the aftermarket through multiple channels, including distributors, dealers, mass merchants and e-commerce, as well as to original equipment manufacturers for “first fit” use on new equipment. Since its founding in the 1940s, Oregon Tool has grown from a family business into a multinational organization.
“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,” said Louis Samson, Platinum Equity partner. “We are excited to work with Paul Tonnesen and the company’s management team to invest in a new generation of growth and expansion.”
With more than 3,200 team members, Oregon Tool sells thousands of products in more than 110 countries under multiple professional and consumer brands like Oregon, Woods and ICS. Earlier this year, the company rebranded from Blount International to Oregon Tool, an effort that highlights its unique heritage and long history of innovation, while also marking an important inflection point in its evolution as an industry leader.
“Oregon Tool has outstanding leadership, a passionate culture and a strong commitment to serving its customers and the communities in which it operates,” said David Glatt, Platinum Equity managing director. “Its global distribution network spans more than 110 countries and makes it an attractive platform for additional growth, both organically and through new acquisitions in adjacent product categories, segments, channels and geographies.”
Oregon Tool CEO Paul Tonnesen remains CEO and will continue to lead the company.
“We are excited to start the next chapter,” said Tonnesen. “Platinum’s investment and operational expertise can help accelerate our growth and innovation, strengthen our position as industry leaders, and continue equipping our pro and DIY customers with the products they need to get the job done.”
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