June 3, 2014: General Tools & Instruments Acquired by High Road Capital Partners
Investment to Spur Growth; General Tools’ Leadership to Remain in Place
NEW YORK — General Tools & Instruments has been acquired by High Road Capital Partners, a private equity firm based in New York City. General Tools’ 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.”
General Tools & Instruments said the investment by High Road will enable the company to accelerate its growth, taking it 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.”
He added that 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.
Publication date: 6/2/2014