Positec secures $250M financing commitment

Positec Tool Group announced it has secured commitments for its first round of equity financing, a $250 million investment that will be leveraged for R&D and product development as Positec continues the global expansion of its consumer facing brands. Those brands include the Kress and Worx lines of outdoor power equipment, plus DIY and construction tool brands including Rockwell, Wesco, Blue Ridge and Cat Tools. Frontier Investment led the financing, joined by Rockets Capital, CLSA Capital Partners, and NRL Capital, etc. 

Positec worx robot mower
Positec sells its Worx robotic mowers at Menard’s stores in the U.S., and online.

“Securing our first round of equity financing is a significant milestone for our organization,” stated Don Gao, founder and CEO of Positec Group. “This investment recognizes three decades of technological innovation, operational excellence and commitment to sustainable development. This funding will further the ongoing research and development of green energy technology and intelligent products, fueling Positec’s market expansion, while we seek to accelerate the electrification and transformation of the global tool market. Importantly, Positec is looking forward to bringing high growth and long-term value returns to investors and partners and making positive contributions to our industry. Personally, I’m tremendously proud and grateful to our global team for their hard work and dedication that made this moment a reality.”

Growing robotic mower market in the U.S.

In the funding announcement, Positec group said it has sold more than one million units of its leading robotic lawn mower under its consumer brand Worx. According to reports released by German market research company GfK in recent years, Worx robotic mowers continue to rank first in omnichannel market share. In 2024, the Worx Landroid Vision was the best-selling robotic lawn mower in Europe.

Through its commercial brand, Kress, Positec Group introduced RTKn technology, which leverages a global network of base station antennas, allowing any mower within the network’s coverage area to operate seamlessly without a local antenna.

 “This investment is tremendously exciting for the ongoing global initiatives of Positec Group,” said Michael Jones, president and CEO of Positec Americas. “While honoring Don Gao’s lifetime commitment to revolutionizing the industry, these funds also position the organization for continued double-digit growth in the US retail market and further strengthen our resources for penetration in the commercial space under the Kress brand. I look forward to working with the global leadership team in the deployment of this capital against strategic priorities as we continue to innovate and deliver best-in-class products to consumers and professionals alike.”

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