Business

Bain Capital completes $1.6 billion purchase of Apex Tool Group

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Bain Capital said it completed the $1.6 billion acquisition of Apex Tool Group, a Sparks, Md., maker of industrial hand and power tools and related products.

Boston-based Bain, a private equity firm, said it bought Apex from Danaher Corp. and Eaton Corp. Apex will be run by its current management team, including chief executive Steve Breitzka, said Bain managing partner Seth Meisel.

“We believe there are attractive opportunities to enhance the global market position and to grow and expand the business,’’ Meisel said in a statement.

Beth Healy can be reached at bhealy@globe.com.
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