Tenex Capital Management, a New York based private equity firm focused on middle market investments, is to acquire the machinery and tools business of Walter Meier of Switzerland.
Walter Meier Tools is a manufacturer and marketer of industrial and wood working machinery and equipment under the JET, Wilton and Powermatic brands. The company has operations in seven countries and sells in over 30 markets worldwide.
The transaction is expected to close by 31 October 2013.
Michael Green, chief executive of Tenex Capital Management, says: “In Walter Meier Tools, we have acquired a strong company with great brands and a growing market share in each of its segments. The well recognised brands of JET, Wilton and Powermatic define the resilience and durability of the products. We look forward to supporting the company and its management team in executing its continuing growth initiatives.”
