On Feb. 9, home improvement retailer Lowe’s Companies Inc. and Lincolnshire, Illinois-based hand tools manufacturer Klein Tools announced a partnership that will extend Klein’s presence into the mega-retailer’s electrical and tool department.

As part of the agreement, Lowe’s said it plans to offer the widest selection of Klein Tools products “anywhere in the home improvement retail channel.” Klein Tools products will be available in Lowe’s stores and on Lowes.com in the second half of 2023, according to a news release announcing the deal.

“Klein Tools is committed to serving professionals across the trades,” said Thomas Klein Jr., Klein Tools President and COO. “This partnership with Lowe’s enables us to serve Pros with our wide array of products, including innovative new products designed to make work on the job easier, safer and more efficient.”

The announcement comes just one week after Lowe’s completed the previously reported sale of its Canadian retail business to private equity firm Sycamore Partners for $400 million.

“As the number one hand tool brand among electrical and HVAC professionals, Klein Tools strengthens our Pro brand and product lineup, and delivers immediate credibility across all trades,” said Bill Boltz, Lowe’s Executive Vice President of merchandising. “The addition of Klein will help drive excitement and traffic among Pro customers looking for market-tested innovation from a brand they trust.”

MDM’s M&A Virtual Summit, to be held Feb. 21-22, has something to offer for any distributor on the dealmaking spectrum. We’ll cover the current state of M&A; how to maximize valuation; integration do’s and don’ts; ESOPs; the culture side of the M&A process; and more. Get details and register here.