Private equity firm the Riverside Co. has invested in Harvey Tool Co. LLC.
Harvey, headquartered in Rowley, Mass., sells specialized cutting tools used by machine shops and production facilities. Terms of the deal were not disclosed.
Riverside plans to expand the company into adjacent product categories and is seeking to make add-on acquisitions. GE Antares Capital and Ares Capital Corp. provided financing for the deal. Jones Day LLP was Riverside's legal counsel.
The New York and Cleveland-based firm focuses on investing in companies that are valued up to $250 million. In March, Riverside bought RS Occupational Healthto add to portfolio company Disa Global Solutions. Before that, Riverside sold swimsuit company Arena to Swiss PE firm Capvis.
Riverside's co-CEOs, Stewart Kohl and Béla Szigethy, won Mergers & Acquisitions M&A Mid-Market Dealmaker of the Year award for 2013. In January, Riverside closed its largest-ever fund with $1.5 billion in capital commitments.