GreatStar Tools acquires Shop-Vac
Hangzhou Equipment Holdings, LLC, a subsidiary of Hangzhou GreatStar Industrial Co., Ltd., and GreatStar Tools USA, manufacturer of hand tools in Asia, acquired substantially all of the assets of Shop-Vac Corporation, the well-known wed/dry vacumm maker that abruptly shut down in September.
As part of the acquisition, GreatStar will take ownership of all Shop-Vac’s company assets, open the Williamsport, Pa., factory, and hire a number of employees who were separated after the factory’s abrupt closure in September 2020.
“We are thrilled to add another iconic American brand to GreatStar’s portfolio of brands – alongside Arrow Fastener, Pony, Jorgensen, Goldblatt, and Prime-Line Products – particularly one that gives us the opportunity to bring manufacturing and jobs back to the US,” says Gary DuBoff, group president, GreatStar Tools USA. “Shop-Vac products are ‘must-have’ items for many retailers and consumers in North America and around the world, and we look forward to restoring this brand’s loyal following and distribution.”
After the acquisition, GreatStar says it plans to reestablish and expand Shop-Vac’s industry leadership utilizing a mix of both Asian and US-based manufacturing. The company will retain manufacturing in its Williamsport, Pa., factory, and will also prioritize restoring Shop-Vac’s distribution in the US, including big-box retailers, major home centers and hardware stores.
GreatStar also pointed to the addition of core competencies that Shop-Vac brings in the areas of manufacturing and operations, including expertise in injection molding; tool and die making; and electrical, industrial and polymer engineering capabilities.
“Shop-Vac represents an important addition to GreatStar’s global product portfolio. The brand’s strong market position, combined with GreatStar’s manufacturing expertise, innovation pipeline, investment capabilities and global reach, will deliver more products, more innovation and more value to our customers around the world,” said DuBoff.
Headquartered in Williamsport, Pa., Shop-Vac is synonymous with the wet/dry vacuum category. With manufacturing in the US, China and Vietnam and worldwide distribution, Shop-Vac was a pioneer in the heavy-duty vacuum system category, serving workshops, garages, factories and other demanding applications. Before closing its doors in September 2020, Shop-Vac enjoyed a 55-year run.
GreatStar Tools USA is part of Hangzhou GreatStar Industrial Co., Ltd., one of the largest hand tool manufacturers in Asia, specializing in designing and manufacturing high-quality products for DIY, professional and industrial markets globally.
With this acquisition, GreatStar adds the Shop-Vac brand to its growing portfolio of US tool brands, including Pony and Jorgensen woodworking clamps; Goldblatt concrete, drywall, masonry and tile tools; Arrow Fastener stapling tools, glue guns and rivet tools; and Prime-Line Products replacement and security hardware.