Platinum Equity has agreed a buyout of Oregon Tool from fellow private equity pair American Securities and P2 Capital.
That duo have owned the company, previously called Blount International, since taking it private in 2016.
Oregon provides saw chain and guide bars for chainsaws and is a leading manufacturer of lawn mower blades, agricultural tractor attachments and other products used by professionals and consumers in the forestry, lawn and garden and agricultural end markets.
Platinum partner Louis Samson said, “Oregon Tool has a well-deserved reputation for quality, innovation and engineering that dates back nearly 75 years.
“Ee are committed to building on that legacy and working with the management team to invest in a new generation of growth and expansion.”
Platinum managing director David Glatt added, “Oregon Tool is an outstanding platform that operates in a large and highly fragmented market.
“In addition to nurturing the company’s existing portfolio, we will pursue an aggressive strategy to expand in adjacent product categories across segments, channels and geographies.”
Platinum Equity smashed its initial target of $8bn to close Fund V on a $10bn hard cap last year.
Big deals from the firm this year include agreeing to buy centenarian publisher McGraw Hill from fellow buyout house Apollo Global in a $4.5bn deal.
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