Here's the Deal
 

Baird's Investment Banking Group is pleased to announce the following transaction:

September 2010


Ames True Temper, Inc.
Sale to Griffon Corporation
$542.0 Million


Baird served as financial advisor to Ames True Temper management and Castle Harlan


Ames True Temper, Inc. (“Ames True Temper” or the “Company”), a portfolio company of Castle Harlan Partners IV, recently completed its sale to Griffon Corporation (NYSE: GFF) for $542 million.

Ames True Temper, in business since 1774, is the market leader in North America for certain lawn and garden products, such as long-handled tools, including rakes and shovels, as well as wheelbarrows, snow tools, striking tools and pots and planters. The Company is based in Camp Hill, Pennsylvania, and its customers include national retailers such as The Home Depot, Lowe's and Wal-Mart, as well as major hardware chains and similar stores throughout North America.

Griffon Corporation is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon currently conducts its operations through Telephonics Corporation (provider of integrated information, communication and sensor system solutions to military and commercial markets worldwide); Clopay Building Products Company (leading manufacturer and marketer of residential, commercial and industrial garage doors to professional installing dealers and major home center retail chains); and Clopay Plastic Products Company (international leader in the development and production of embossed, laminated and printed specialty films used in a variety of hygienic, health-care and industrial applications).

Castle Harlan, founded in 1987, invests in controlling interests in the buyout and development of middle-market companies in North America and Europe. Its team of 19 investment professionals has completed 51 acquisitions since its inception with a total value in excess of $9.6 billion. Castle Harlan currently manages investment funds with equity commitments of $2.5 billion.

For additional information about this transaction, please contact:
Managing Director
(312) 609-4977
Managing Director
(312) 609-4687
Director
(312) 609-4689

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