Seasoned Advisory Executive Robert Bass Appointed as Audit Committee Chairman of the Board of Directors of Apex Tool Group

SPARKS, Md., April 20, 2015 /PRNewswire/ -- Apex Tool Group, LLC, a global leader in industrial hand and power tools, today announced that effective as of April 22, 2015, Robert Bass, a retired Deloitte vice chairman with significant experience advising growth companies, has been appointed audit committee chairman of the Board of Directors that governs Apex Tool Group.  

Mr. Bass joined the Apex board in December 2014, transitioning into the audit chair role through the period of completion of the Company's 2014 audit. Mr. Bass replaces Terry Klebe as audit committee chairman; Mr. Klebe has decided to step down for personal reasons from the audit chair role and from the Board, effective April 22, 2015. Mr. Klebe joined the Board in September 2013 after having previously served as a member of the Apex board of directors in 2010 and 2011. "We thank Terry for his many contributions and significant guidance during his service to Apex, and welcome Bob to the team," said Seth Meisel, Managing Director of Bain Capital and Apex Board member. 

Robert Bass, 65, was a vice chairman of Deloitte LLP from 2006 to 2012, and a Deloitte partner from 1982 to 2012 specializing in e-commerce, mergers and acquisitions, and SEC filings. At Deloitte, Bass was responsible for all services provided to Forstmann Little and its portfolio companies and was the advisory partner for Blackstone, DIRECTV, McKesson, IMG and CSC.  Mr. Bass currently serves on the Board of Directors for Sims Metal Management since September 2013, and became chairman of its risk and audit committee in November 2014. Additionally, Mr. Bass was named to Groupon's Board of Directors in June 2012, and was elected chairman of its audit committee in early 2013.

He also previously was the advisory partner for priceline.com, RR Donnelley, Automatic Data Processing, Community Health Systems and Avis Budget. Mr. Bass is a Certified Public Accountant licensed in New York, Connecticut and California, and is a member of the American Institute of Certified Public Accountants as well as the New York and Connecticut State Societies of Certified Public Accountants. Mr. Bass holds an MBA from Columbia University and a bachelor's degree in business administration from Emory University

"Bob brings strong advisory experience guiding emerging companies on their growth journey," said Tom Wroe, Chairman and CEO of Apex Tool Group, who also serves on the Board. "I look forward to his valuable contributions and new perspectives from the sectors he has advised as we work to elevate Apex to new levels of performance and create a sustainable value engine for the future." 

Apex Tool Group, LLC based in Sparks, Maryland, is one of the largest worldwide producers of industrial hand and power tools, tool storage, drill chucks, chain, and electronic soldering products. Directly, and through its subsidiaries, Apex Tool Group serves a multitude of global markets, including automotive, aerospace, electronics, energy, hardware, industrial, and consumer retail. The Company markets its portfolio of diverse products under its own brand names in addition to being the principal manufacturer of several key private label products for major retailers. Apex Tool Group's global brands include Crescent®, GearWrench®, Armstrong®, Weller®, Lufkin®, Campbell®, SATA® and Wiss®. It is a portfolio company of Bain Capital. Learn more at www.apextoolgroup.com.

SOURCE Apex Tool Group, LLC