NEW YORK, February 3, 2021 / PRNewswire / – High Road Capital Partners (www.highroadcap.com) announced the sale of its portfolio company GTI Holding Company, the parent company of General Tools and Instruments, LLC (“General Tools”) (www.generaltools.com). to Worthington Industries, Inc. (NYSE: WOR), e.g. 115,000,000 USD. The sale that was completed on January 29, 2021marks the third exit for the High Road Capital Partners Fund II.

Secaucus, NJ-based General Tools is a leading designer, developer, and marketer of feature-rich, specialized hand tools and instruments for the home improvement, safety equipment user, handyman and handyman. General Tools products are sold primarily under the General®, PacTool®, Garden Weasel® and Hawkeye ™ brands to leading hardware store retailers, online marketers, hardware retailers, and hardware and industrial wholesalers.

High Road acquired General Tools in February 2014. While owning High Road, General Tools completed the acquisitions of PacTool International, which added a range of home repair and remodeling tools to its portfolio, and Garden Weasel, which added world-class lawn and garden equipment with lasting brand value. Owning High Road, sales nearly doubled and EBITDA nearly tripled.

“Our successful investment in General Tools is a perfect example of High Road’s strategy of partnering with management to grow niche leaders in the lower middle class into bigger and better companies,” he said Jeff Goodrich, Partner at High Road Capital Partners. “General Tools’ CEO Ralph Mallozzi Building and leading a top flight management team, strengthening the position of General Tools in all channels, especially online, inspiring a culture of continuous product development and seamlessly integrated acquisitions, “said Goodrich.

Ralph MallozziGeneral Tools CEO said, “High Road has been a true partner in every way to the success of General Tools. High Road provided the guidance and support to help me and the team build a great business that is well positioned for further growth at Worthington Industries. ”

Mr. Goodrich led the investment for High Road and was supported by Jerome Anderson, Business partner; Eojin Lee, headmaster; and Austin Arnold, Associate. Lincoln International advised High Road and the company and Jones Day Legal counsel provided.

High Road Capital Partners has completed 63 transactions since its inception in 2007 – 20 platform investments, 33 additional acquisitions and 10 exits.

For more information please contact Bob Fitzsimmons from High Road Capital Partners at (212) 554-3265.

High Road Capital Partner
High Road Capital Partners is a private equity firm that focuses on the smaller mid-market. High Road was founded in 2007 and has increased $ 470 million of tied capital since its inception. High Road is aimed at niche companies with sales of $ 10 million to $ 100 million and EBITDA of $ 3 million to $ 10 million. After the acquisition, High Road will work with management to take the companies to the next level through a combination of organic growth initiatives and additional acquisitions. www.highroadcap.com

QUELLE High Road Capital Partner

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