Hudson Ferry Capital's Laguna tools completes the acquisition of Dake corporation
RYE BROOK, NY, December 5, 2019 - Hudson Ferry Capital announced that its portfolio company, Laguna Tools, Inc. ("Laguna") has completed the acquisition of Dake Corporation (“Dake”) from its parent company JSJ Corporation. Dake is a Grand Haven, Michigan-based company specializing in presses, bandsaws and other machine tools for the metalworking industry. Dake has been an institution in the metalworking tool industry since its founding in 1887. The acquisition of Dake Corporation will provide Laguna with a platform for the continued development and growth of its metalworking line of products.
Dake Corporation is the second acquisition for Laguna in the past two years. In September 2017, Laguna Tools acquired SuperMax, an award winning manufacturer and distributor of drum, brush and combo sanders for the woodworking and metalworking industries.
“We are thrilled to add a company with Dake’s pedigree to the Laguna Tools portfolio,” Laguna Tools CEO Stephen Stoppenbrink said. “From its craftsmanship to its culture, we believe Dake is an excellent addition to our company and further demonstration of our commitment to continued investment in our industry-leading product lineup.”
“Dake has a great brand and product line that instantly bolsters Laguna’s presence in the metalworking industry. We look forward to building off Dake’s success as Laguna continues to expand in metalworking.” said Bruce Robertson, Partner at Hudson Ferry Capital.
Hudson Ferry Capital completed its investment in Laguna on March 31, 2016.
CIBC Bank USA provided senior debt financing. DLA Piper advised Hudson Ferry Capital and Laguna on the transaction.
About Hudson Ferry Capital
Hudson Ferry Capital (www.hudsonferry.com) is a New York-based private equity firm that specializes in investing in lower middle market companies. The firm partners with entrepreneurial owners and managers of established privately-owned companies that are differentiated through product or process innovation. The principals of Hudson Ferry Capital have invested in dozens of niche manufacturers, business services companies and outsourcing providers over the last several decades. As a trusted financial partner, Hudson Ferry Capital can provide liquidity to current owners, provide capital to execute a growth strategy, and assist in transitioning an organization from a smaller or regional family-owned business into a larger, integrated enterprise.
For more information about this transaction, please contact:
Bruce Robertson
Partner
Hudson Ferry Capital
brobertson@hudsonferry.com
Paul Huston
Partner
Hudson Ferry Capital
phuston@hudsonferry.com