Private equity firm buys seventh add-on for Paladin

Private equity firm Norwest Equity Partners has purchased the assets of Glenmac, the maker of Harley brand power rake attachments, as an add-on acquisition for its portfolio company Paladin Brands. This is the seventh add-on transaction since NEP invested in Paladin in October 2003. The Harley acquisition expands Paladin’s product offerings into the landscaping and nursery markets, NEP said in a press release. The company already manufactures attachments for the forestry, light and heavy construction, utility, demolition and recycling industries. Paladin has a goal of becoming the construction industry’s largest independent manufacturer of equipment attachments.