Rhino Tool House Acquires Power Tools & Supply
January 24, 2024CONCORD, NC – Rhino Tool House, a leading value-added distributor of intelligent fastening solutions, customized material handling solutions and calibration services to OEMs, announced that it has acquired Power Tools & Supply, Inc. (“PTS”). Based in Walled Lake, Michigan, Power Tools & Supply has been providing a wide range of assembly tools and material handling solutions to automotive and automation integration customers since 1989. With the acquisition of PTS, Rhino Tool House increases its penetration in Michigan and expands its service capabilities for customers.
“The acquisition of PTS enables us to provide strong local service support to our customers in the Michigan and Northern Ohio area and increases the breadth of products we can offer them,” says Dan Brooks, CEO of Rhino Tool House. “With this second acquisition in Michigan, we remain committed to supporting our valued customers in the region and providing them with the most innovative products and solutions.”
“We are excited to partner with the Rhino Tool House team,” says Power Tools & Supply founder Jeff McClure. “We look forward to continuing to serve our customers with an enhanced offering of solutions and capabilities.”
Eric Hansen, Partner at Blue Sea Capital, added, “We are very happy to welcome Power Tools & Supply into the Rhino Tool House platform. The addition of PTS grows our geographic footprint and marks the third strategic acquisition completed in the first year of our partnership.”
About Rhino Tool House
Rhino Tool House (www.rhinotoolhouse.com) is a leading value-added distributor of intelligent fastening solutions, customized material handling solutions and calibration services to OEMs across a wide range of end markets. The Company provides superior services, local expertise and a high degree of responsiveness to empower its customers to be more productive, build better quality products and maintain safe environments for their employees. The Company is headquartered in Concord, North Carolina and employs over 250 full-time employees across fourteen facilities. Rhino Tool House and Blue Sea Capital partnered in 2023 and have subsequently completed three add-on acquisitions for the platform.
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $300 million. The firm has over $1.4 billion in assets under management 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.
