Cleveland – January 10, 2018 – Brown Gibbons Lang & Company (BGL) is pleased to announce the merger of Simonds International (Simonds), a portfolio company of Ironwood Manufacturing Fund and Nautic Partners, with Burton Saw and Supply (Burton), a portfolio company of Pfingsten Partners. BGL also assisted in a capital raise to support a recapitalization of the combined company. BGL’s Industrials & Building Products team served as the exclusive financial advisor. Terms of the transaction were not disclosed.
The transaction creates the leading producer and marketer of cutting tools and related equipment for the wood processing industry. The combined entity will continue to leverage the Simonds, Burton, Cut Technologies, BGR, Armstrong, Wright, and Global Tooling brands and operate in the United States and Canada with 12 facilities strategically located in the major wood processing regions of North America.
Ray Martino, President and Chief Executive Officer of Simonds said: “BGL did an outstanding job bringing the companies together and supporting the merger. We are excited to partner with Burton to pursue the next stage of growth for our collective customers and employees.”
Craig Tompkins, President and CEO of Burton said: “The merger brings together the strengths of two great companies with a common goal, efficient and innovative solutions to the industry we serve. We thank BGL for its efforts in this pivotal transaction.”
Founded in 1832, Simonds International is a leading supplier and marketer of cutting tools and related products to the wood, pulp, paper, and tree care industries. Simonds merged with B.G.R. Saws in May 2017, expanding its offering to provide customers with a complete solution through products, services, and equipment. For more information, visit www.simondsint.com.
Burton Saw and Supply was founded in 1903 and is based in Eugene, Oregon. From its origins as a supplier of saw manufacturer supplies in Western Canada, the company transformed itself into a leading provider of products, equipment, and technical solutions to saw mills and wood product manufacturers throughout North America. For more information, visit www.burtonsaw.com.