AHM management will own the remaining 30 per cent of the business, according to the Wall Street Journal (WSJ).
“The Do-It-Yourself, or DIY, sector has proved one of the most defensive segments of retail, and one that has continued to grow both during and after the global financial crisis,” Equity Partners’ Rajeev Dhawan told WSJ.
AHM’s brands include garden tool maker Atlas, DIY tool provider Sheffield and knife producer Green River.
Equity Partners is currently investing through its third fund, which closed on A$76m in 2007.
The firm said its generally targets businesses generating between $4m and $20m in profit before interest and tax.
Copyright © 2012 AltAssets