Beverly Hills-based private equity firm Platinum Equity has acquired Oregon Tool, a Portland, Ore.-based maker of chainsaws, cutting tools, outdoor equipment accessories and parts.

New York-based private equity firms American Securities and P2 Capital Partners, which took Oregon Tool private in 2016, sold the company to Platinum Equity.

Financial terms of the deal were not released. The transaction is expected to be completed before year-end.

Oregon Tool, the world’s No. 1 seller of saw chains, was founded in 1947. Founder Joe Cox was inspired by timber beetle larva to better understand how to cut wood more efficiently.

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Source: Los Angeles Business Journal

By Pat Maio