Acquisition in the tool aisle
PacTool International, a Seattle-based manufacturer of siding tools and gauges, specialty hand tools, cutting tools and blades, was acquired by General Tools & Instruments, a portfolio company of High Road Capital Partners.
PacTool is known for products in the construction, renovation and remodeling segments. Their products include the Gecko Gauge, which holds fiber cement siding in place during installation and can reduce labor requirements by half; Snapper Shears, a collection of dust-free cutting tools; and the Roof Snake nail puller and shingle replacers.
The acquistion is described as a strong fit, with PacTool’s product line of exterior construction tools complementing General Tools’ collection of precision hand & digital tools used primarily for interior home improvement projects.
“The acquisition of PacTool strengthens General Tools’ market position as a leading provider of specialty tools and instruments. PacTool’s innovative niche exterior construction tools are an ideal complement to General Tools' portfolio of precision hand tools and instruments, which are used by DIYers, tradesmen, and craftsmen, almost exclusively for interior applications” said Jeffrey Goodrich, Partner, High Road Capital Partners. “In addition, fiber cement siding has several advantages over competing products and sales are growing faster than the overall exterior coverings market.”
“We’re excited for the tremendous opportunity to introduce PacTool products into our extensive distribution channels,” says Ralph Mallozzi, president and CEO, General Tools & Instruments. “And the interior and exterior construction professionals, renovators and remodelers who rely on PacTool’s products will gain access to General Tools’ exceptional knowledge base and broad portfolio of award winning products.”
