Middle-market private equity firm Platte River Equity has bought industrial tool manufacturer Jameson LLC for an undisclosed amount.
Jameson founded in 1956 and located in Clover, South Carolina, makes cables, lights and tree cutting tools such as saws. Platte River will combine Jameson with hoist maker Huskie Tools, which the PE firm bought earlier in 2015. The combined company will be based in Glendale Heights, Illinois. “We are excited for the opportunity to enter new markets and accelerate the pace of new product development across both brands,” says Jameson CEO Dan Miller.
Platte River invests up to $80 million in equity in businesses that have $20 million to $250 million in revenue. Earlier in 2015, the firm purchased Profile Products LLC, a maker of products that are designed to minimize soil loss and help seed growth.