GreatStar Tools Acquires Shop-Vac

Hangzhou Equipment Holdings, LLC, a subsidiary of Hangzhou GreatStar Industrial Co., Ltd., and GreatStar Tools USA, a hand tool manufacturer, have acquired substantially all of the assets of Shop-Vac Corporation, manufacturer of wet/dry vacuum systems for consumer and commercial applications. Shop-Vac, which shut down operations in September, will expand GreatStar’s global product portfolio, which include Arrow Fastener, Pony, Jorgensen, Goldblatt, and Prime-Line Products. Shop-Vac also adds core competencies to GreatStar’s manufacturing and operations, including expertise in injection moulding; tool and die making; and electrical, industrial, and polymer engineering capabilities. As part of the acquisition, GreatStar will take ownership of all Shop-Vac’s company assets, re-open the Williamsport, PA, factory, and re-hire a number of employees. After the acquisition, GreatStar plans to re-establish and expand Shop-Vac’s manufacturing ability, utilizing a mix of both Asian and U.S.-based manufacturing. The company will retain manufacturing in its Williamsport, PA, factory, and will also prioritize restoring Shop-Vac’s distribution in the U.S., including big box retailers, major home centres, and hardware stores.