Platte River Equity Acquires Huskie Tools, Inc.
Platte River Equity (“Platte River”) announced today that it has acquired Huskie Tools, Inc. (“Huskie Tools” or the “Company”). Huskie Tools is a leading independent provider of professional-grade, battery-operated hydraulic hand tools, hoists and related accessories that are used by linemen in the electric utility industry and in broader industrial end markets. The Company’s product portfolio consists of an extensive set of hydraulic power tools and hoists that are used primarily to maintain and build transmission and distribution infrastructure.
“Platte River places strong emphasis on investing in businesses that provide critical products and services that meet the needs of our country’s most important infrastructure. With Huskie Tools’ market-leading position, the Company is poised to capitalize on the significant planned investment in the North American power delivery system,” commented Platte River Managing Director Peter Calamari. “Huskie Tools has a reputation as a provider of safe, reliable and high-performing products that are used by electric utility linemen throughout North America,” added Platte River Principal, Mark Brown.
“We are looking forward to working closely with Platte River and learning from their prior experiences as we continue to develop new products, penetrate new end markets and expand geographically,” said Roger Richter, Vice President of Operations of Huskie Tools.
Platte River invested out of its third fund, Platte River Equity III, L.P., to acquire Huskie Tools. Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River. Madison Capital provided financing for the transaction.
About Huskie Tools, Inc.
Established in 1976, Huskie Tools is a leading independent provider of professional-grade, battery-powered hydraulic cutting and compression tools, hoists, and related accessories that are used by electric utilities and industrial companies. In 1989, Huskie Tools pioneered the industry when it introduced the first battery-operated, hydraulic compression tool in North America. Huskie Tools has become the brand of choice for electric utility linemen and industrial tradesmen. For more information, visit www.huskietools.com.
About Platte River Equity
Based in Denver, Colorado, Platte River is a private equity firm that invests in lower middle market operating companies with enterprise values generally between $20 million and $250 million. The firm focuses on targeted industry sectors where it has deep operating and investing experience including aerospace and transportation; energy and industrial products and services; and chemicals, metals, minerals and agriculture. Platte River has raised funds with committed capital in excess of $700 million. For more information, visit www.platteriverequity.com.