Leatherman Tool Group (LTG) announced it will sell Ledlenser GmbH & Co. KG of Solingen, Germany, the maker of Ledlenser LED lights to Afinum.
Closing is scheduled to take place by the first week of December. LTG will continue to support the company and its products during and after the transition of ownership to ensure there is no disruption in business operations.
“With this sale of Ledlenser GmbH & Co. KG, we are excited to allow Ledlenser to light its own path forward,” said Ben Rivera, CEO of Leatherman Tool Group. “As separate companies, each brand will be able to capitalize on market opportunities, align with their core brand values, and thrive.”
Leatherman Tool Group acquired the Ledlenser brand in April 2011. The two companies are similar in many facets: Leatherman and Ledlenser were founded and are led by passionate and persistent inventors: Tim Leatherman founded Leatherman in 1983 and serves as chairman of the board. Twin brothers Rainer and Harald Opolka founded Ledlenser, and Rainer has stayed active in the business. Both companies introduced products that were the first of their kind and redefined their categories: the original multipurpose tool and the first hand-held LED lights. Leatherman and Ledlenser both own their manufacturing factories and directly employ the people who work in them in Portland, Oregon, and YangJiang, China (respectively). They highly value their employees providing competitive salaries and benefits. Both brands value innovation and quality and are focused on customer satisfaction.
As a part of the Leatherman Tool Group, Ledlenser successfully expanded its product offerings beyond traditional flashlights and headlamps into specific target markets including outdoor and industrial categories. The company has also recently launched an intrinsically safe light collection.
However, Leatherman wanted to return to its guiding principles that have defined the brand for 35 years. One pinnacle principle is manufacturing in the United States.
“We are a private company dedicated to leading the industry that we created,” said Rivera. “Our vision is to be synonymous with multipurpose and continue to be a significant part of epic tales of triumph not only for our existing passionate consumers, but also for new ones. This renewed focus will help us to achieve that vision. We operate a state-of-the-art factory in Portland, OR, and running the company under one roof allows us to drive innovation and guarantee the quality and performance of our products by overcoming challenges face to face, in real time in order to deliver the best product possible.”
For a period of time, but not indefinitely, Ledlenser will continue to operate as the primary distributor for Leatherman in Germany, and Leatherman will operate as the primary distributor of Ledlenser in the Americas.
Image courtesy Ledlenser