Newbury Park, CA — Platinum Tools, Inc. (“Platinum” or “the Company”), a leading supplier of innovative wire, cable, and connector products used across a variety of end-markets, has been acquired by NSi Industries, Inc. (“NSi”), a portfolio company of Blue Sea Capital. FocalPoint served as exclusive financial advisor to Platinum Tools.
Founded in 1997 by industry veterans Lee Sachs and David Johny, Platinum offers some of the most highly sought-after interconnect solutions for low-voltage electrical applications. The Company also offers a variety of specialized hand tools designed to optimize the preparation, installation, and testing of various wire and cable applications in the fields of telecom and datacom, home security and connectivity, and other industrial and infrastructural applications.
Regarding the transaction, Platinum’s President, Lee Sachs stated, “We are very happy to join the NSi platform. This partnership will allow both companies to provide a much broader set of products to our customers, build on Platinum’s strong foundation, and ultimately position Platinum for its next phase of growth. FocalPoint was instrumental in helping us achieve our goals for the business as well as our shareholders. The team did a stellar job of driving a successful outcome while navigating us through the various complexities of the transaction process.” Mr. Sachs will remain involved in the combined business moving forward.
Michael Del Pero, Managing Director and leader of FocalPoint’s Industrials practice commented, “We are excited to announce another successful transaction for our dedicated Industrials group. In the last 12 months, this is our third transaction in the Wire, Cable, and Interconnect sector and we continue to build out our expertise in that space. Lee, David, and the rest of the Platinum team have built an exceptional business. We are honored to have advised them through the sale process and look forward to a bright future for both Platinum and NSi.”
“We are excited to partner with Lee Sachs and David Johny and add Platinum Tools to what we have been building at NSi,” said G.R. Schrotenboer, CEO of NSi. “This acquisition expands our product offering into the low-voltage market, a market we have not served in the past. In addition, Platinum is a key first step in our acquisition strategy which will continue to drive NSi’s growth and diversification going forward.”
Andy Boswell, Partner at Blue Sea Capital, added, “We are pleased to bring Platinum into the NSi platform. Platinum represents an attractive new addition to NSi’s portfolio of products and brands and is the first of many strategic acquisitions that NSi will accomplish in the years to come.”
About NSi Industries
NSi, headquartered in Huntersville, North Carolina, is a leading supplier of a wide variety of electrical connectors, mechanical and digital time controls, wire management products, and other related electrical components for construction, maintenance, and repair applications. NSi’s well-known brands include Polaris™ insulated connectors, TORK ® time and lighting controls, and Easy-Twist™ wire connectors. NSi has a 40-year history of providing innovative, profitable, and quality solutions to its distributor partners. For more information, please visit www.nsiindustries.com.
About Blue Sea Capital
Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle-market companies valued up to $200 million. The firm has $327 million in assets under management and invests across three industry verticals: aerospace and defense, healthcare, and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance, and business transformation. For more information, please visit www.blueseacapital.com.
About FocalPoint Partners
FocalPoint is an independent investment bank specializing in mergers and acquisitions, private placements, financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, and New York, the firm serves middle-market clients throughout the U.S and has a dedicated Industrials practice. For more information, please visit www.focalpointllc.com.