CenterGate Invests in Professional Tools Manufacturer Spartaco

CenterGate Capital has acquired Spartaco Tool Group, a manufacturer of professional-grade tools used in utility, telecommunications, arborist, military and government, and industrial applications, from Platte River Equity.

Spartaco Tool’s products include cable cutting and crimping tools, underground and aerial construction equipment, power ascenders, utility pole pullers, and specialty lighting systems used in field operations. Company-owned brands include Jameson Tools, Huskie Tools, RONIN, Jameson Tactical Lighting, Tiiger, and Bulldog Bender. Spartaco Tool, led by CEO Nick Skrobot, is headquartered in Clover, South Carolina.

“We are very excited to partner with CenterGate for our next phase of growth. CenterGate’s investment will provide us the capital and strategic resources to continue our growth trajectory while providing the safest, highest-quality tools that line workers and technicians depend on every day,” said Mr. Skrobot.

Platte River formed Spartaco in 2017 to consolidate its investments in Huskie Tools (acquired in September 2015) and Jameson Tools (acquired in December 2015). Later add-on acquisitions included Ronin Revolution (August 2023) and Bulldog Bender (February 2023).

“Over our holding period, Spartaco underwent a meaningful transformation by expanding its product portfolio and building a platform that is well-positioned for its next chapter,” said Mike Reilly, a principal of Platte River.

CenterGate’s investment in Spartaco Tool is supported by continued growth in spending by utilities and telecommunications providers on grid modernization, storm hardening, and fiber‑optic expansion. Market analysts expect substantial, sustained investment by U.S. electric utilities in transmission and distribution infrastructure over the coming decade, which should support demand for cable cutting and crimping tools from Huskie Tools and aerial installation equipment from Jameson Tools. Industry forecasts also point to significant ongoing investment by telecom operators in fiber networks, aided in part by federal programs, which is expected to benefit suppliers of installation and maintenance equipment. Contractors serving these projects rely on layup tools, underground equipment, and specialty lighting systems from Spartaco’s portfolio for field work where reliability is critical.

“Nick and his team have built Spartaco into a premium brand for professional-grade tools both in the U.S. and internationally,” said Michael Smith, a managing director at CenterGate. “We are proud to partner with Nick and the Spartaco team to support the execution of their growth plan and ongoing investment in grid infrastructure by Spartaco’s customers.”

Austin-based CenterGate invests between $10 million and $75 million in equity in lower middle-market companies across North America, with EBITDA ranging from $5 million to $30 million. Its areas of focus include business services, manufacturing, and consumer sectors. In August 2024, CenterGate announced the final closing of CenterGate Capital Partners II LP with just over $375 million in capital, exceeding its target.

Denver-headquartered Platte River makes equity investments ranging from $25 million to $100 million in lower middle-market companies with annual revenues of $20 million to $250 million and EBITDA between $7 million and $30 million. The firm’s sectors of interest include aerospace and transportation, energy products and services, industrial products and services, and agriculture and chemicals.

Spartaco Tool Group was advised by Lincoln International on its sale to CenterGate.