Blackstone Acquires Industrial Cutting Tool Company JJ Tools

On the 27th, Blackstone announced that it has signed a contract to acquire a controlling stake in JJ Tools Co., Ltd., a leading manufacturer of industrial cutting tools, through its private equity fund.

Jong-ik Park, the founder and CEO of JJ Tools, will remain a shareholder and continue to support the company's global expansion through collaboration with Blackstone. Through this investment, Blackstone aims to continue its partnership with outstanding Korean founders and high-quality family businesses.

Gu-jin Guk, Head of Blackstone Korea PE division, stated, "Blackstone continuously strives to discover excellent Korean companies and collaborate with talented founders to support their long-term growth," adding, "We are very pleased to support JJ Tools' success and global expansion based on Blackstone's global network, strategic insights, and expertise in corporate operations." He further added, "We will lead the company's continuous development together through cooperation with CEO Jong-ik Park, the management team, and company members."

Kyung-min Song, Managing Director of Blackstone Korea PE division, said, "JJ Tools belongs to the 'high value-added industrial goods' sector, a core investment area of Blackstone's PE division, and is a leading company recognized as a trusted partner and supplier to rapidly growing customers across various global industries," and added, "We plan to actively support JJ Tools in becoming Asia's top company in the cutting tool industry by maximizing synergies among Blackstone portfolio companies."

Jong-ik Park, founder and CEO of JJ Tools, said, "This investment will be a significant milestone for JJ Tools' growth," and added, "It seems that our efforts over the past 25 years to provide customers with high-quality cutting tools through differentiated technology have been recognized." He further stated, "We are very pleased to partner with the global investment firm Blackstone and expect that the company's global presence will be further strengthened through Blackstone's global network and expertise."

JJ Tools Co., Ltd., established in 1997 and based in Seoul, is a specialized manufacturer of industrial cutting tools, producing ultra-precision cutting tools such as carbide end mills, thread mills, and drills. Its products are used in various industries including semiconductors, engineering, automotive, aerospace, and medical sectors.