Transaction
Quarton International is pleased to announce that Prospect Partners has sold Superior Tool Company (“Superior Tool”) to Magna Industries. Quarton International acted as the exclusive financial advisor to Superior Tool in this transaction.
Client
Prospect Partners is a private equity firm located in Chicago, Illinois. Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues of less than $75 million. The firm has $470 million of capital under management.
Buyer
Magna Industries, headquartered in Cleveland, Ohio, is a provider of a diversified group of tools and products for consumer and professional users. Magna’s product portfolio includes propane torches and accessories, plumbing repair tools and dustless drywall sanding systems and related products.
Superior Tool Company, headquartered in Cleveland, Ohio, is a provider of commercial-grade hand tools serving the North American do-it-yourself and do-it-for-me plumbing market. The company’s product portfolio includes a full line of branded cutting tools, specialty tools and wrenches used in plumbing installation, repair and removal. Superior Tool’s products are marketed to home centers, co-operative buying groups, wholesale distributors, original equipment manufacturers and online retailers.
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