LINCOLNSHIRE, Ill. — Klein Tools announced the acquisition of the General Machine Products Company (GMP) business based in Trevose, Pennsylvania. Klein Tools acquired substantially all of the business assets of GMP, with no further specifics of the asset transaction terms disclosed.
GMP, a third-generation business owned and operated by the Pfundt family since 1936, is recognized as a premier worldwide supplier of specialty cable placement tools and equipment. The company is primarily known for its premium quality cable lashing machines, cable blowing equipment and other specially designed tools for the utility, data and telecommunications markets. GMP also has a subsidiary and facility in the United Kingdom, CBS Products, that was also acquired as part of the transaction.
“GMP is very appealing to Klein Tools as we continue to expand our U.S. manufacturing presence,” says Thomas R. Klein, Sr., Chairman. “GMP and Klein Tools have much in common, including loyal customers, go-to-market strategies and reputations for high-quality products. We believe our combined resources will present additional growth opportunities, and we’re excited to welcome GMP to the Klein Tools family.”
Tagged with acquisition, Klein Tools, tED