ACE Acquisition Puts Pfingsten on the Cutting Edge

Pfingsten Partners has acquired American Cutting Edge (ACE), a manufacturer and distributor of consumable industrial knives, blades, and razors.

ACE’s product line includes precision-ground industrial knives used in plastic and food processing, flooring tools such as utility blades for installation and maintenance, and granulator blades for recycling applications. Company-owned brand names include American Cutting Edge, Better Tools, and Great Lakes Industrial Knife. ACE also provides several value-added services such as blade sharpening, custom etching, and inventory management.

Customers of ACE include OEMs, end-users, and distributors operating in the recycling, plastic production, converting, food, packaging, flooring installation, tree care, and archery sectors.

ACE was founded in 1965 by Charles Biehn (then CB Manufacturing and Sales Company) and today is led by President and CEO Gregory Billhardt. ACE operates two facilities in Ohio—its headquarters in Miamisburg and an additional location in Akron.

“Pfingsten’s global capabilities, operational resources and extensive history of successfully scaling industrial businesses made them the perfect fit for ACE,” said Mr. Billhardt. “We are confident that Pfingsten’s ample resources and thoughtful approach to building better businesses will enable us to better serve our customers and position our business for immediate rapid growth.”

“ACE’s critical, consumable product offering combined with their engineering capabilities, rapid fulfillment times and knowledgeable employees make them a true partner to their diverse customer base,” said Scott Finegan, senior managing director at Pfingsten. “We are thrilled to partner with ACE’s management team and look forward to supporting the company’s continued growth through enhanced sales and marketing initiatives, product introductions and new market penetration both organically and via add-on acquisitions.”

Pfingsten Partners, based in Chicago, invests in middle-market manufacturing, distribution, and business services companies that have transaction values ranging from $15 million to $100 million, revenues from $20 million to $150 million, and EBITDA between $3 million and $12 million. In October 2023, the firm held an above-target, oversubscribed, and hard cap close of its sixth investment fund, Pfingsten Fund VI LP, with $435 million in capital.

Livingstone Partners was the financial advisor to American Cutting Edge on this transaction.

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