May 7, 2020
High Road Capital Partners' Portfolio Company General Tools & Instruments Acquires Garden Weasel
High Road Capital Partners (www.highroadcap.com
) announced that its portfolio company General Tools & Instruments (www.generaltools.com
) has acquired Garden Weasel (www.gardenweasel.com
), a provider of specialized lawn and garden tools, from Faultless Brands. The transaction marks General Tools’ second acquisition under High Road’s ownership, having acquired PacTool International in November 2017.
The acquisition comprises Garden Weasel’s assets, trademarks, patents, and related intellectual property, including the Garden Weasel®, Garden Claw®, and WeedPopper® and other easy-to-use cultivators, weeders, edgers, nut gatherers and hand tools with distinctive red handles. Launched in the U.S. in 1975, Garden Weasel products are sold primarily in hardware stores, farm and fleet stores, home improvement centers, and by big box retailers.
“General Tools’ addition of Garden Weasel extends the company’s leadership in the specialized hand tools market and expands its reach into lawn and garden products,” said Jeffrey Goodrich, High Road Partner. “The current stay-at-home environment is contributing to a surge of interest in gardening. Garden Weasel, as a familiar and trusted brand, is well suited for the times,” Mr. Goodrich said.
“Garden Weasel is known for premium quality and durable products, which complement our portfolio of award-winning products,” said Ralph Mallozzi, President and Chief Executive Officer, General Tools & Instruments. “We see a tremendous opportunity for the company by enhancing marketing, developing innovative new products and line extensions, and broadening distribution.”
General Tools & Instruments’ acquisition of Garden Weasel closed April 29, 2020. Transaction consideration was not disclosed. Mr. Goodrich led the transaction for High Road and was assisted by Eojin Lee, Principal, and Austin Arnold, Associate. Twin Brook Capital Partners provided financing for the transaction. High Road was advised by Jones Day.
High Road Capital Partners has completed 60 transactions – 20 platform investments, 32 add-on acquisitions, and eight exits – since its founding in 2007.
For further information, please contact Jeffrey Goodrich of High Road Capital Partners at (212) 554-3268.
High Road Capital Partners
High Road Capital Partners is a private equity firm focused on the smaller middle market. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road targets niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Post-acquisition, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions. www.highroadcap.com
General Tools & Instruments
Founded in 1922, General Tools is a recognized leader in the design and development of specialized precision tools. With more than 1,200 products, including specific-purpose hand tools as well as precision measuring and inspection tools, General Tools remains committed to delivering exceptional customer service to professionals, DIYers and hobbyists around the world. General Tools & Instruments is headquartered in Secaucus, New Jersey. www.generaltools.com