Griffon buys tool company for $542M

Jericho-based Griffon Corp. on Thursday finalized its buy of Ames True Temper Inc., a lawn and garden tools maker, in a $542 million deal.
 
Griffon has said it will pay for the Camp Hill, Penn., company with about $75 million in cash and a $500 million loan from Goldman Sachs Lending Partners LLC.
 
Griffon described Ames True Temper as the “leading North American manufacturer and marketer of non-powered lawn and garden tools, wheelbarrows, and other outdoor work products to the retail and professional markets.”  Above left is a Planter's Buddy shovel tool from Ames.
 
Its brands include: Ames, True Temper, Ames True Temper, Dynamic Design, Garant, UnionTools, Razor-Back, Jackson and Hound Dog.  Ames True Temper is owned by a subsidiary of Castle Harlan, Inc.

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