Kamur PE sells cutting tool maker JJ Tools to Blackstone

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Kamur PE sells cutting tool maker JJ Tools to Blackstone - Korea Economic Daily

Quick Summary:

Blackstone confirmed the purchase of JJ Tools, but did not identify its seller.“JJ Tools is an industry-leading business in one of our key investment themes for private equity Asia – valued-added industrials,” Kyungmin Song, principal at Blackstone Private Equity, said in a press release on Tuesday.“We seek to ..support JJ Tools in becoming the top pan-Asian consolidator in the cutting tools sector,” he added.

Seoul-based Kamur Private Equity has signed a definitive agreement to sell a majority stake in South Korean industrial cutting tool manufacturer JJ Tools Co.to Blackstone, according to investment banking sources on Wednesday.

Established in 1997, JJ Tools specializes in high-precision cutting tools, including carbide end-mills, thread mills and drills, used in various industries spanning semiconductors, engineering, automobiles, aviation and medical.