Laguna Tools, a portfolio company of Hudson Ferry Capital, has acquired St. Joseph Tools (DBA SuperMax Tools) from its owner Bill Schroeder. Hudson Ferry acquired Laguna Tools in March 2016.
SuperMax is a designer and seller of drum, brush and combination sanders that are used in the woodworking and metalworking industries. The company also sells accessory products such as dust collectors, abrasives and brushes. SuperMax is based in Saint Paul (www.supermaxtools.com).
Laguna Tools manufactures wood, plastic and metalworking CNC machinery which the company sells directly to is customers. The company also sells band saws, table saws, edge banders, lathes, dust collectors and other woodworking equipment to retailers including Woodcraft and Rockler Woodworking. Laguna Tools was founded in 1983 by its President Torben Helshoj and is headquartered in Irvine, CA (ww.lagunatools.com).
“The acquisition of SuperMax will add products that are highly complementary to our product lineup,” said Mr. Helshoj. “SuperMax’s brush and drum sanders are best-in-class and we look forward to showing our customers our expanded line of superior woodworking and metalworking equipment.”
“SuperMax is a great fit for Laguna. Cost reductions will be implemented immediately and there are significant opportunities to cross-sell products to the newly combined customer base,” said Bruce Robertson, Partner at Hudson Ferry Capital. “We are excited about the combination of Laguna and SuperMax and will continue to seek acquisition opportunities.”
Opus Bank and CIBC US provided senior debt financing to back this acquisition. DLA Piper was the financial advisor to Hudson Ferry and Laguna Tools.
Hudson Ferry invests in lower middle market companies with enterprise values of $15 million to $75 million, revenues of $15 million to $75 million, and EBITDAs of $3 million to $8 million. Sectors of interest include niche manufacturers; business services providers; and outsourcing providers. Hudson Ferry was founded in 2007 and is based in Rye Brook, NY (www.hudsonferry.com).
© 2017 Private Equity Professional | September 21, 2017
