Carlson Systems, a portfolio company of Industrial Opportunity Partners, has acquired Western Tool Supply, a distributor of tools and supplies. Industrial Opportunity Partners acquired Carlson in August 2009.
Western Tool is a distributor of tools and supplies including hand-held nailers, staplers, and related fasteners to the construction, industrial, and woodworking sectors. Western Tool operates 14 sales offices in Oregon, Washington, Idaho, Utah and Montana and is headquartered in Salem, OR (www.westerntool.com).
“We are excited to support our platform investment in Carlson with the highly strategic acquisition of Western Tool. Carlson is positioned for growth both internally and through strategic acquisitions such as Western Tool. Western Tool represents Carlson’s first add-on acquisition since IOP invested in Carlson in 2009,” said Ken Tallering, Senior Managing Director of IOP.
Carlson is a multi-regional distributor of product assembly systems serving the fastening and packaging needs of construction, industrial, and OEM customers. Products include hand-held nailers, staplers, tapers, marking and labeling products, stretch/shrink wrappers, and strappers.
From its 52 sales offices in 22 states and parts of Mexico, Carlson sells over 15,000 SKUs sourced from over 900 vendors. The company is headquartered in Omaha (www.carlsonsystems.com).
“The acquisition of Western Tool expands Carlson’s geographical coverage to the Pacific Northwest. The combined company will benefit through its broadened customer relationships and product offerings. The Carlson platform is very well positioned and has significant momentum as its end markets continue to rebound,” said Jim Todd, Chairman of Carlson and an Operating Principal of IOP.
Industrial Opportunity Partners (IOP) focuses on acquiring middle-market manufacturing and value-added distribution businesses, typically with revenues between $30 million and $350 million. IOP targets businesses with strong product, customer, and market positions and provides management and operational resources to support sales growth and operational improvements. The firm has $460 million of committed capital and was founded in 2005. IOP is headquartered in Evanston, IL (www.iopfund.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-7-13
