- Company said to speak with advisers about strategic options
- Garner family has operated GE Forge & Tool since 1973
The owners of GE Forge & Tool, a specialist manufacturer of tools for shoeing horses, are considering options for the company that may result in a sale, according to people familiar with the matter.
The Garner family, which owns and operates GE Forge, has held talks with advisers about conducting a strategic review, said the people, who asked not to be identified because the information is private. The company could fetch about $1 billion in a sale, they said.
A spokesman for GE Forge didn’t respond to telephone or e-mail requests seeking comment.
GE Forge is likely to attract interest from private equity firms. No final decision has been made and the owners may decide not to pursue a sale, the people said.
The closely held firm, which can trace its roots back to Oregon in 1946, has been owned by the Garner family since 1973, according to the company’s website. The Grover Beach, California-based company’s products including nail pullers and hoof nippers.