Bain Capital said it completed the $1.6 billion acquisition of private label tool maker Apex Tool Group.
Apex designs, manufactures, markets and sells more than 30 proprietary brands, and also designs and manufactures a number of private label tool brands for retailers such as Sears and The Home Depot. Headquartered in Sparks, MD, Apex operates a global manufacturing footprint with locations in North America, Europe, Asia, Australia and Latin America. Apex Tool will continue to be led by Steve Breitzka as President and Chief Executive Officer, and the current management team.
"Bain Capital is dedicated to the continued success of Apex Tool, and we look forward to working with Steve Breitzka and the rest of the management team as they build upon a proven record of providing customers with outstanding products and service," said Seth Meisel, a managing director at Bain Capital. "We believe there are attractive opportunities to enhance the global market position and to grow and expand the business."