One Equity Partners (OEP), a middle market private equity firm, has completed the acquisition of Walterscheid Powertrain Group, (Walterscheid), a provider of original equipment and aftermarket parts and services for off-highway powertrain applications, from GKN Limited.
Walterscheid, headquartered in Lohmar, Germany, manufactures, distributes and services shafts, gearboxes, attachment systems, clutches and other parts for off-highway applications. Founded in 1919, the Company’s 2,200 employees provide a wide range of services for agricultural, construction, mining, and industrial OEM and aftermarket customers in Europe, China and North America.
“We look forward to supporting CEO Wolfgang Lemser and his team as they continue to manufacture superior powertrain solutions and provide the best in-service support to the world’s leading off-highway and industrial original equipment manufacturers,” says Joseph Huffsmith, Managing Director, OEP. “Walterscheid is a highly-regarded business that continues to execute on its growth strategy and deliver exceptional products and services to customers in the agricultural, construction, mining and industrial industries.”
Walterscheid has 10 manufacturing plants and operates 26 aftermarket service locations across four continents, providing comprehensive aftermarket and service offerings through 130 distribution partners worldwide. The Company also manages 22 service centers in 16 countries.
“OEP has a strong track record of sponsoring corporate carve-outs that build strong, independent and market-leading industrial companies,” says Lemser. “We are pleased to partner with OEP as we further grow our customer solutions in the US and Europe.”