Ingersoll Tools Group (“ITG”) is a global leader in the manufacturing of high-precision consumable wear components embedded into agricultural soil preparation implements.
June 2015 – Present
ONCAP acquired a minority interest in Ingersoll Tools Group (“ITG”) in June 2015.
Based in Hamilton, Ontario and Legazpi, Spain, Ingersoll Tools Group (“ITG”) is a global leader in the manufacturing of high-precision consumable wear components embedded into agricultural soil preparation implements, primarily under the Ingersoll and Bellota AgriSolutions brands and serves both the OEM and aftermarket channels. ITG is also a leading manufacturer and distributor of branded manual hand tools for the agriculture, construction and gardening end markets in Europe, North America and Latin America under leading brands including Bellota and Corona.
Prior to ONCAP’s investment, in March 2014, ITG completed the acquisition of Corporacion Patricio Echeverria (“CPE”), a provider of agricultural soil preparation and hand tool products. The acquisition transformed ITG to the global leader in consumable wear components for the agricultural industry. The acquisition also resulted in ITG’s entry into the hand tools business, with leading brands and strong market positions in North America, Europe, and Latin America.
ONCAP was attracted to ITG for several reasons, including its: (i) strong market position globally in the consumable agricultural products and locally in several hand tool markets;
(ii) strong diversity across all metrics (customer, product, facility, geography, SKU, brand and end-market); (iii) attractive, well-recognized consumer and professional brands; (iv) strong positioning in higher growth emerging markets; (v) core industry growth trends and long-term tailwinds; (vi) opportunities for improved coordination and integration amongst the divisions; and (vii) acquisitions in a fragmented sector.