Chervon acquires SKIL Power Tool Brands from Bosch

The SKIL acquisition bolsters Chervon’s global leadership in the
power tool category, while fueling the growth of the iconic SKIL and
SKILSAW brands

CHICAGO–(BUSINESS WIRE)–Chervon, one of the world’s top 10 manufacturers of power tools, outdoor
power equipment and related products, has completed the purchase of the
SKIL and SKILSAW brands from Robert Bosch Tool. The acquisition gives
Chervon complete control over the SKIL and SKILSAW businesses in the
North American market. Part of a tremendous growth period for Chervon,
the company is relocating its North American headquarters to Naperville,
Ill. By May of 2017, Chervon will have hired or transitioned more than
100 employees in North America with plans to grow to up to 200 strong
within the next several years.

Chervon and SKIL: Building on a shared heritage of innovation

“Both Chervon and SKIL are pioneers in the power tool market, making the
acquisition a natural fit for us. We specialize in combining
cutting-edge technology with exceptional quality to deliver the best
tools to our end-users. SKIL complements our existing brand portfolio
and approach, and further strengthens our competitive position in the
global power tool and outdoor power equipment industry,” said Peter L.Q.
Pan, President of Chervon (HK) Ltd.

For more than 20 years, Chervon has been at the forefront of power tool
and outdoor equipment innovation. The company was the first in the world
to mount lasers to portable power tools in 2003. Later they purchased
FLEX, the inventor of the angle grinder based in Stuttgart, Germany, and
in 2014, launched the first high capacity Lithium-Ion battery-driven
outdoor power equipment line, EGO, now the number one brand in its
category.

Similarly, SKIL is a highly regarded tool brand with a deep heritage of
innovation and quality for both professionals and consumers. In 1924,
SKIL invented the world’s first electric hand saw and built its
reputation as one of the top DIY power tool brands. SKILSAW is widely
accepted as the brand of choice for professionals. Through the
acquisition, Chervon aims to leverage that equity and infuse both brands
with capital investment and new product development resources while
staying true to the heritage and positioning of the brands.

Expanding the SKIL and SKILSAW Product Lines

“SKIL and SKILSAW are iconic brands with incredible awareness. We will
maintain the high standards professionals demand of the SKILSAW brand
and provide the resources to expand the assortment with a focus on
professional cutting, leveraging our worm drive technology,” said Bill
Boltz, CEO of Chervon North America.

Chervon’s new North American Headquarters in Naperville

As a result of tremendous growth for Chervon over the last decade, the
company is relocating its North American headquarters to a
124,000-square-foot facility at 1203 E. Warrenville in Naperville, Ill.
Chervon will move in to its state-of-the-art headquarters in May of
2017, hiring and transitioning more than 100 employees in North America
with plans to grow to up to 200 strong within the next several years.

About Chervon

CHERVON has always committed to helping to build a better world by
building better tools. We focus on hand-held portable power tools,
stationary bench tools, laser and electronic equipment and outdoor power
equipment. With world-class R&D, testing and manufacturing capabilities;
collaborating sales & marketing groups; industrial design professionals
and service teams throughout the world, we are able to provide
satisfying solutions that meet or surpass our customers’ expectations.
Over more than 20 years, CHERVON has earned its reputation for
continuous innovation and dedicated pursuit of professionalism. Today,
CHERVON-built products are sold by more than 30,000 stores in 65
countries. We pride ourselves on being a TOP 10 player in the global
power tool industry.

For additional information please visit CHERVON online at www.chervongroup.com.

Contacts

Chervon
Joe Turoff
Chief Marketing Officer
jturoff@chervongroup.com
1-866-624-3786
x6001