Lincolnshire toolmaker Klein Tools buys Pennsylvania company – Manufacturing News

on Jun8

7 June 2017 | 6:08 pm

A Lincolnshire tool manufacturer has bought the business assets of a small Pennsylvania company, adding an estimated $8 million in revenue to its topline.

Klein Tools, estimated to have $535 million in revenue last year, purchased the assets of General Machine Products, located near Philadelphia in Trevose, Pa. GMP makes cable lashing machines that wind steel wire around cables used by the utility and telecommunications industries. The deal includes CBS Products, a GMP subsidiary based in the United Kingdom.

Klein Tools makes tools for electric and utility workers, including 134 types of pliers. Founded in the 19th century, the family-owned the company employs 1,100 at seven facilities in the United States. GMP is a third-generation company.

Terms of the deal were not disclosed.



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