New York, NY - Tenex Capital Management, the New York based private equity firm focused on middle market investments, announced it has signed a definitive agreement to acquire the machinery and tools business of Walter Meier AG of Switzerland. Walter Meier Tools is a leading 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 October 31 st, 2013.
With a brand heritage spanning over 90 years, JET, Wilton and Powermatic products reach a broad spectrum of end users through a wide-ranging distribution base. Its products include JET and Powermatic woodworking machinery, Wilton vises and clamps, B.A.S.H unbreakable striking tools and JET metalworking machinery, lifting products and air tools.
Michael Green, CEO of Tenex Capital Management, stated, “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 recognized 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.”