Stanley Black & Decker purchased the two brands from KPS Capital Partners.
Paladin makes a variety of attachment and coupler products for construction equipment under 11 brands: Brado, CP, CustomWorks, CWS, FFC, Harley, Jewell, JRB, Kodiak, McMillen and Sweepster. It has manufacturing plants in Michigan, Ohio, Iowa, Tennessee, Oregon, Brazil and Canada.
Pengo, headquartered in Laurens, Iowa, manufactures augers and drilling attachments.
Paladin and Pengo were purchased by KPS in 2011 and became business units of the firm’s International Equipment Solutions, which was formed to acquire the two companies along with Genesis attachments, Crenlo cabs and Emcor enclosure brands.
In August, KPS announced the sale would total $690 million and would also include the Genesis brand. In announcing the completion of the sale this month, KPS said it would keep Genesis. A spokesperson for Stanley said the terms of the sale could not be disclosed, per the company’s agreement with KPS.
Paladin and Pengo have been added to the Stanley Infrastructure division, which also encompasses Stanley, LaBounty and Dubuis brands. Products include mounted and handheld hydraulic tools.
“Joining these brands with Paladin and Pengo will present customers with more solutions and choices than ever before and will create new opportunities for innovation,” says a Stanley news release.
“As part of Stanley Black & Decker, Paladin and Pengo attachments will remain committed to their core strategic imperatives related to their people and customers,” says Matt Roney. Roney was Paladin’s president and will serve as Stanley Infrastructure CEO.
Added Stanley Infrastructure President Doug Redpath, “Together we will reduce complexity for our existing customers and foster channel expansion and broader assortments for new customers and end users.”