Laguna Tools Has Been Sold
New York private equity firm Hudson Ferry Capital just bought Irvine's Laguna Tools.
Laguna Tools makes computer-controlled machines for woodworkers, including mills and routers.
Although the terms of the deal were undisclosed, Hudson Ferry targets companies with a value of $15M to $75M with annual revenue of $15M to $75M, the Orange County Business Journal reports.
Laguna Tools president Torben Helshoj founded the company after immigrating to Orange County from Denmark more than 33 years ago.
Torben, along with COO Stephen Stoppenbrink and VP Catherine Helshoj, are retaining significant equity ownership. [OCBJ]