Benchmark International

Benchmark International has advised on the successful sale of Universal Air Tool Company Limited (UAT) to P&F Industries, Inc. (P&F) for  seven times the Company’s EBITDA.

Established and incorporated in 1973 by Douglas Moppett, High Wycombe-based UAT is the market leader in pneumatic air tool distribution to the automotive sector in the UK.

The acquirer, New York-headquartered P&F, through its two wholly owned operating subsidiaries, Continental Tool Group, Inc. and Countrywide Hardware, Inc., manufactures and imports air-powered tools sold principally to the industrial, retail and automotive markets. P&F’s products are sold under their own trademarks, as well as under the private labels of major manufacturers and retailers.

UAT will now become a wholly owned subsidiary of P&F’s subsidiary, Florida Pneumatic Manufacturing Corporation, and the acquirer believes that the acquisition will be immediately accretive to earnings.

Richard Horowitz, P&F’s Chairman, President and CEO, explained, “With this latest acquisition, Universal Air Tool Company Limited provides P&F with its first direct entry into the European market. We are excited about the potential growth opportunities and anticipated transformative effect provided by this acquisition.”

Commenting on the deal and his experience working with Benchmark International, UAT shareholder, Christian Moppett stated, “I was glad to have an experienced team in Benchmark International, led by Adam Palmer, negotiating on my behalf. Benchmark International delivered several credible alternative offers from parties I would otherwise been unable to reach.

“This means that my whole family feels confident that we achieved the best possible price when exiting the family business after over 40 years.”

Benchmark International would like to thank all parties involved and wishes them the very best of luck for the future.