General Tools & Instruments was acquired by High Road Capital Partners, a private equity firm based in New York City. The deal closed on Feb. 4. 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,” CEO Joe Ennis said in a statement. “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, according to the release.
“Together with General’s outstanding management team, we plan to pursue both organic growth initiatives and add-on acquisitions,” said High Road partner Jeff Goodrich.
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.
This article originally appeared in the July 2014 issue.