OnMark Capital advises Blåkläder on Diamondback Toolbelts acquisition

By AI, Created 10:43 AM UTC, May 20, 2026, /AGP/ – OnMark Capital said it advised Swedish workwear maker Blåkläder Workwear on its acquisition of U.S. tool-belt maker Diamondback Toolbelts, a deal aimed at expanding product depth and reach across North America and beyond. The transaction combines two trades-focused brands as Blåkläder pushes further into workwear, gear and accessories.

Why it matters: - The deal expands Blåkläder Workwear’s reach beyond apparel into tool belts and accessories used by skilled trades and industrial workers. - The combination is designed to create a more integrated product offering for jobsite apparel and gear. - The companies expect the acquisition to support growth in North America and international markets.

What happened: - OnMark Capital said it served as the exclusive financial advisor to Blåkläder Workwear on its acquisition of U.S.-based Diamondback Toolbelts. - The announcement was made May 6, 2026. - Blåkläder is based in Svenljunga, Sweden, and Diamondback Toolbelts is based in the U.S. - OnMark Capital linked to its announcement in the release.

The details: - Blåkläder was founded in 1959 and develops, produces and distributes premium workwear, gloves and footwear. - The company operates in 20-plus countries and produces more than 5 million garments a year. - Blåkläder says its manufacturing capabilities are ISO- and LEED-certified. - Diamondback Toolbelts designs and makes premium ergonomic tool belts, pouches and accessories. - Diamondback’s products are built for comfort, durability and performance on demanding jobsites. - Blåkläder Chairman Amanda Dusing said the combined company will pair technical garment engineering with ergonomic tool systems to improve safety, comfort and productivity. - Eric Nelson of OnMark Capital said the transaction gives Blåkläder a premium U.S. platform in tools and accessories, while Diamondback gains a partner with global scale. - OnMark Capital said this is its second transaction with Blåkläder. - OnMark said it continues to focus on cross-border M&A in industrial, manufacturing, building products and specialty consumer sectors.

Between the lines: - The deal suggests Blåkläder is trying to own more of the worksite wardrobe and equipment stack, not just the clothing layer. - Diamondback gains access to a larger international distribution footprint, which could widen its addressable market. - The partnership points to continued interest in trades-focused brands with functional, performance-driven products.

What’s next: - The companies expect to accelerate innovation across workwear and jobsite gear. - Blåkläder and Diamondback plan to expand distribution across North America and internationally. - The combined platform is expected to target skilled trades and industrial professionals in demanding environments. - OnMark Capital said it will continue pursuing platform and add-on acquisitions for clients across North America and Europe.