Daily News: December 26, 2013

U.S. Bank, NorthStar Provide Financing for High Road Portfolio Buy

High Road Capital Partners announced that its portfolio company Accurate Components & Fasteners completed the acquisition of All Tool Sales. U.S. Bank and Northstar Capital provided financing for the transaction.

“All Tool Sales has a strong reputation for high-quality products and consultative services through its vendor-managed inventory programs,” said Benjamin A. Schnakenberg, High Road Partner. “This acquisition expands our footprint and solidifies Accurate’s position as a leading provider of industrial fasteners and other industrial supplies to manufacturers in the Midwest.”

“We are excited to join the Accurate platform and have additional resources to serve our customers,” said Jim Ruetz, who will serve as president of the subsidiary. “We share the belief that being close to the customer and developing deep relationships is key to their success and ours,” added Ruetz, a son of All Tool Sales’ founder. Family members Rosemary Thornton and Nick Ruetz will also continue in management roles.

Accurate Components & Fasteners’ acquisition of All Tool Sales closed on December 20, 2013. Financing for the transaction was provided by U.S. Bank and Northstar Capital. Transaction consideration was not disclosed.

Ben Schnakenberg, partner, led the transaction for High Road. Also working on the transaction from High Road were Bill Hobbs, Partner; Paul Langley, Senior Associate; and Eugene Kolodin, Associate. BCMS Capital Advisors advised the sellers.

Franksville, WI-based All Tool Sales operates through two divisions: All Fasteners, a distributor of industrial fasteners used by original-equipment manufacturers; and All Tool Sales, a distributor of cutting tools and industrial supplies.

New Brighton, MN-based Accurate Components & Fasteners is a value-added distributor of industrial fasteners, hardware, stampings and production components used by original-equipment manufacturers in their manufacturing operations.