December 17, 2007 -- In a strategic move expected to broaden the company's position in the voice, data and video channel, Textron Inc.'sGreenlee business unit has announced the acquisition of Paladin Tools, a provider of tools and accessories for the telecom, datacom and wiring industries.
"Strategically, this acquisition provides Greenlee with a complementary brand portfolio and an expanded product line," comments Scott Hall, Greenlee president. "Paladin also gives Greenlee access to additional distribution channels in the voice, data and video industry that will broaden our customer base for communications wiring tools."
Headquartered in Oilville, Virginia, Paladin has been growing its presence in the industry since it was founded in 1977. Paladin's brand names include Paladin Tools, DataShark and PowerPlay; the company's product line includes a variety of cutters, strippers, punchdown tools, crimpers, multi-tools, testers, kits and other hand tools and accessories for use in computer, network, telephone, home entertainment and other communications wiring applications. Current customers include Home Depot, Menards, Fry's, Anixter, Tessco, Graybar, and Original Equipment Manufacturers (OEMs).
"Paladin is a strong force in the industry and will be a welcome addition to Greenlee's Hole Making and Hand Tools value stream," says Martha Kness, Greenlee's Hole Making & Hand Tools vice president and general manager. "As growth within this industry is expected to continue over the next few years driven by favorable trends in the cable, network and communications equipment field, we look forward to a unified strategy for meeting our customers' needs."
Greenlee currently offers a line of tools for datacom, telecom and fiber optic applications. The company's product offering includes a selection of premium installation tools, tone generators and telephone test sets, network certification instruments, and fiber-optic test equipment. In addition, Greenlee recently launched a line of hand tools including custom-designed high-quality pliers, saws, screwdrivers, wrenches, insulated drivers, tool bags, accessories, tool kits and more.