Tenex Capital Management to take over Walter Meier Tools.
9 October 2013 - US private equity firm Tenex Capital Management said it would buy the machinery and tools unit of Swiss climate and manufacturing technology group Walter Meier AG (SWX:WMN), without disclosing the value of the deal.
Nashville, Tennessee-headquartered Walter Meier Tools, with operations in Switzerland, Germany, Russia, France, Taiwan and China, makes machinery and equipment under the JET, Wilton and Powermatic brands which it sells through more than 3,000 distributor partners in 30 countries.
Commenting on the deal, Tenex Capital Managementa[euro](tm)s CEO Michael Green pointed out Walter Meier Toolsa[euro](tm) strong brands and growing market share in each of its segments, pledging support to the businessa[euro](tm) management in continuing the implementation of growth plans.
Completion is expected by the end of this month.Country: USASector: Machinery/EngineeringTarget: Walter Meier ToolsBuyer: Tenex Capital ManagementVendor: Walter Meier AGType: LBOStatus: Agreed
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