Matrix Announces the Successful Sale of Paladin Tools
RICHMOND, VA – December 19, 2007 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Paladin Tools to Greenlee, an operating subsidiary of Textron, Inc. (NYSE: TXT), based in Rockford, IL. Paladin Tools, headquartered in Oilville, VA, is a leading provider of hand tools and accessories for the communications wiring industry.
Matrix served as exclusive financial advisor to Paladin’s shareholders on the transaction.“We believe that our brands, products, services and customer base enhance Greenlee’s long-standing relationships and strengthen their product lines. Paladin Tools is a natural fit in the Greenlee portfolio. We are excited about accelerating our growth and realizing our vision to be the first choice in communications tools,” said Steven Erickson, President of Paladin Tools. He further commented, “Working with the Matrix team made this transaction virtually seamless. They were an invaluable partner throughout the process and provided our shareholders with solid advice. They were a tenacious advocate for the company and always ensured that our best interests were represented. The end result was a great transaction for Paladin and its shareholders.”
Paladin Tools was founded in 1977 and is an industry leader in hand tool development for communications wiring applications. Paladin’s brand names include Paladin Tools®, DataShark® and PowerPlay®, and the company’s product line includes a variety of cutters, strippers, punchdown tools, crimpers, multi-tools, testers, kits and other hand tools and accessories for use in computer, network, telephone, home entertainment and other communications wiring applications.
Greenlee is known as a global leader in the professional tool category. The Rockford, Illinois-based company develops high-quality innovative products distinguished by customer-driven design and differentiated by supply chain excellence. Greenlee also leverages its powerful brands such as Tempo, Fairmont, and Klauke in the electrical, construction and maintenance markets worldwide.
Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. The company leverages its global network of aircraft, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, EZ- GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation.
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.