High Road Capital Partners Sells Portfolio Company General Tools & Instruments

NEW YORK, Feb. 3, 2021

Secaucus, NJ-based General Tools is a leading designer, developer, and marketer of feature-rich, specialized hand-held tools and instruments for DIY users, safety equipment users, tradesmen, and craftsmen.  General Tools' products are marketed primarily under the General®, PacTool®, Garden Weasel®, and Hawkeye™ brands, to leading home improvement retailers, online marketers, hardware retailers, and wholesale hardware and industrial distributors.

High Road acquired General Tools in February 2014. During High Road's ownership, General Tools completed the acquisitions of PacTool International, which brought a line of home repair and remodel tools into its portfolio, and Garden Weasel, which added premium lawn and garden tools with enduring brand equity.  Under High Road's ownership, revenue nearly doubled, and EBITDA nearly tripled.

"Our successful investment in General Tools is a perfect example of High Road's strategy to build lower-middle-market niche leaders into bigger and better companies in partnership with management," said Jeff Goodrich, a Partner at High Road Capital Partners. "General Tools' CEO Ralph Mallozzi built and led a topflight management team, strengthened General Tools' position in all channels, particularly online, inspired a culture of continuous product development, and seamlessly integrated acquisitions," Goodrich said.

Ralph Mallozzi, General Tools' CEO, said, "High Road was a true partner in General Tools' success, in every sense of the word.  High Road provided the guidance and support to help me and the team build a great business that is well-positioned for continued growth at Worthington Industries."

Mr. Goodrich led the investment for High Road and was assisted by Jerome Anderson, Operating Partner; Eojin Lee, Principal; and Austin Arnold, Associate. Lincoln International advised High Road and the company, and Jones Day provided legal counsel.