BOLLEBYGD, Sweden — Hultafors Group AB on Monday announced it has acquired Martinez Tool Co.
Martinez Tool, based in California, manufactures made-in-the-USA premium tools for the professional craftsman. Martinez Tool’s most recognized products are customizable, high-quality titanium hammers available on the Martinez Tool website and through select number of domestic and international dealers.
“We are deeply impressed by the innovation level and end user engagement of Martinez Tool Company that has quickly gained the brand recognition among professional end users who are only satisfied by best-in-class product performance and customer service experience," said Pete Chatel, president of Hultafors Group North America. "Our intention is to build on this strong heritage and continue to operate Martinez Tool Company as a separate brand in our existing portfolio."
The acquisition is part of Hultafors Group’s strategy to broaden its product portfolio with innovative brands for professional end users and has high strategic importance since it can help further penetrate the U.S. market with an attractive, made-in-the-USA premium brand.
“I see Hultafors Group as the perfect long-term owner for Martinez Tool Company as they share my passion for innovation, superior quality and customer service," said founder and CEO Mark Martinez."We already have many exciting projects planned and look forward to starting this journey together."
Martinez Tool had $6 million in revenue 2021 with high double-digit growth and a profitability above Hultafors Group.