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Oregon Chain Acquired by Platinum Equity

Philbert

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Just saw this. Oregon ownership has been transferred a few times over the past several years.

https://labusinessjournal.com/news/2021/jul/14/platinum-equity-acquires-oregon-tool/

'Beverly Hills-based private equity firm Platinum Equity has acquired Oregon Tool, a Portland, Ore.-based maker of chainsaws, cutting tools, outdoor equipment accessories and parts.
New York-based private equity firms American Securities and P2 Capital Partners, which took Oregon Tool private in 2016, sold the company to Platinum Equity.
Financial terms of the deal were not released. The transaction is expected to be completed before year-end.'


https://www.bizjournals.com/portland/news/2021/07/14/oregon-tools-platinum-equity.html
'The Milwaukie-based chainsaw and outdoor equipment parts maker, long known as Blount International, was sold by its two private equity owners to a third PE firm, Los Angeles-based Platinum Equity.
The sellers, American Securities and P2 Capital Partners, had purchased then-Blount for $855 million in a deal that closed in 2016. Terms of the sale to Platinum Equity, expected to close in the fourth quarter this year, were not disclosed in Wednesday’s announcement.
CEO Paul Tonnesen said that in one sense, the sale meant that the two former owners had come to the end of their investment cycle, a natural occurrence in private equity. But he added that the new owner “bought into the strategy and the team” at Oregon Tool.'


Philbert
 

Philbert

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Oregon Chain company ownership (via Wikipedia):

- Joseph Buford Cox founded Oregon Saw Chain Company in 1947. Cox later founded Precision Castparts Corp.

- In 1953, John D. Gray acquired the company and changed the name to Omark Industries. In the 1980s, Omark began researching and adopting just-in-time manufacturing processes. By visiting factories in Japan, Omark studied examples of lean manufacturing. The concepts kept the saw chain products viable in the export market during a period with a strong dollar.

- In 1985, Omark Industries was purchased by Blount Industries, Inc. and its founder, Winton M. Blount.

- In 1993, Blount Industries, Inc. was renamed Blount International, Inc., and shifted its focus from construction to manufacturing. In 1997, Blount purchased Frederick Manufacturing Corp. of Kansas City, Missouri and added lawnmower blades and garden products to its portfolio.

- In 1999, Blount was acquired by Lehman Brothers Merchant Banking. In 2002, Blount's corporate headquarters moved from Montgomery, Alabama, to Portland, Oregon. In 2004, it changed its NYSE symbol to BLT, which remained the company's ticker symbol until 2015.

- On December 10, 2015, Blount announced that it would be taken private by American Securities and P2 Capital Partners in an all-cash transaction valued at approximately $855 million, or $10 a share in cash. On May 10, 2021, Blount Inc. unveiled a new corporate name that positions it for growth while honoring its heritage: Oregon Tool. The shift from Blount, Inc. to Oregon Tool will be effective June 2, 2021.

- On June 2, 2021, Blount Inc officially became Oregon Tool, Inc.

- On July 14, 2021, American Securities and P2 Capital Partners announced the signing of a definitive agreement under which Platinum Equity will acquire Oregon Tool.

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Dieselshawn

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There’s a Blount that changed over to Oregon Tool 40 mins from me in Guelph, Ontario Canada.

I deliver half a 53 foot trailer of pallets there every Thursday.

I’ve asked for a tour of the place and was waiting for a good time to make the appt, then COVID came. No go.
 
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