NSi Industries Acquires Platinum ToolsMarch 11, 2019
Blue Sea Capital LLC (“Blue Sea”) announced that its portfolio company, NSi Industries (“NSi” or the “Company”), has acquired Platinum Tools, LLC. (“Platinum”), a Newbury Park, CA based provider of low voltage connectors, tools and other products for the preparation, installation, hand termination and testing of low voltage wire and cable.
“We are excited to partner with Lee Sachs and David Johny and add Platinum Tools to what we’ve been building at NSi. This acquisition expands our product offering into the low voltage market, a market we have not served in the past. In addition, Platinum is a key first step in our acquisition strategy which will continue to drive NSi’s growth and diversification going forward,” said G. R. Schrotenboer, CEO of NSi.
President of Platinum Tools, Lee Sachs, said, “We are very happy to join the NSi platform. The partnership with NSi will allow both companies to provide a much broader set of products to our customers.”
Andy Boswell, Partner at Blue Sea Capital, added “We are pleased to bring Platinum into the NSi platform. Platinum represents an attractive new addition to NSi’s portfolio of products and brands, and is the first of many strategic acquisitions that NSi will accomplish in the years to come.”
Lee Sachs and David Johny, founders of Platinum Tools, will continue to lead Platinum Tools as a stand-alone subsidiary and strategic West Coast distribution facility for NSi Industries. Both Lee and David will continue to be significant shareholders of the combined NSi / Platinum entity.
About Platinum Tools
Platinum Tools (www.platinumtools.com), founded in 1997, was founded with two very simple objectives. First, to develop the absolute best possible solutions for the preparation, installation and hand termination of wire and cable. Second, to implement an operational infrastructure that can deliver these products in an efficient, timely and high-quality manner. All Platinum products are designed around three critical benchmark criteria — utility of function; quality of function; and economic value. The company prides itself on its skilled and dedicated workforce, all of whom are focused on attaining the highest possible product knowledge and customer satisfaction, with an ongoing willingness to learn and adapt.
About NSi Industries
NSi (www.nsiindustries.com), headquartered in Huntersville, North Carolina, is a leading supplier of a wide variety of electrical connectors, mechanical and digital time controls, wire management products and other related electrical components for construction, maintenance and repair applications. NSi’s well-known brands include Polaris™ insulated connectors, TORK® time and lighting controls and Easy-Twist™ wire connectors. NSi has a 40-year history of providing innovative, profitable and quality solutions to its distributor partners.
Blue Sea Capital (www.blueseacapital.com) is a private equity firm based in West Palm Beach, Florida, that invests in growth-oriented lower middle market companies with EBITDA of up to $30 million. The firm has over $1.3 billion in committed capital and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented leaders and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation.