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Genstar completes Woods Equipment Company sale

Middle-market private equity firm Genstar Capital has completed the sale of its portfolio company Woods Equipment Company to Blount International, Inc. (NYSE: BLT) for approximately USD185 million.  

Woods Equipment Company, headquartered in Oregon, IL, is a leading full-line manufacturer of high-quality attachments and implements, as well as a leading distributor of aftermarket parts. The company serves the agriculture, grounds care, and construction industries, as well as providing aftermarket parts. Woods serves a dealer network of agricultural, landscape, and construction professionals with products marketed under the brand names Woods, Alitec, Central Fabricators®, Gannon, Wain-Roy, WoodsCare, and TISCO. 

The sale of Woods builds upon Genstar’s continued efforts in the industrial technology space.  In June of this year, Genstar acquired MW Industries, a leading provider of highly engineered springs and fasteners. In August 2010, Genstar sold Fort Dearborn, a provider of decorative labels.

Rob Rutledge, the head of Genstar’s industrial technology practice, says: "We continue to be very active looking at new platform and add-on opportunities and believe now is a good time to invest in differentiated industrial technology businesses with significant aftermarket or consumable product revenue."

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