October 10, 2012 / 10:10 AM / in 5 years

Danaher, Cooper to sell tools JV to Bain Capital

Oct 10 (Reuters) - Danaher Corp and Cooper Industries said they will sell their hand and power tools joint venture, Apex Tool Group, to Bain Capital for about $1.6 billion.

Danaher and Cooper each own a 50 percent interest in Apex, which makes Crescent wrenches, Lufkin measuring tapes and hand tools for Sears Holdings Corp’s Craftsman brand.

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