Lincoln Partners Represents Industrial Growth Partners in the Sale of Weasler Engineering, Inc. to American Securities Capital Partners, LLC
October 4, 2005 - Chicago, IL - Industrial Growth Partners ("IGP") a San Francisco-based private equity investment firm, has completed the sale of Weasler Engineering, Inc. ("Weasler") one of its portfolio companies, to American Securities Capital Partners, LLC ("American Securities"). Lincoln Partners initiated this transaction, assisted in the negotiations and served as the exclusive financial advisor to IGP and Weasler. Terms of the transaction were not disclosed.
Headquartered in West Bend, Wisconsin with additional locations in Wijchen, Netherlands and Kecskemet, Hungary, Weasler is the technological leader in the design, manufacture and sale of highly engineered drivetrain components and systems for the agricultural implement, lawn and turf, construction and other industrial end markets. Weasler's high performance products provide solutions for critical OEM applications and include North American drivelines, European metric drivelines, gearboxes, clutches, torsional dampers and other related components. These highly engineered products are protected by 34 active patents and five patents pending, including multiple patents on the Company's constant velocity drivelines and a patent on its newly designed automatic clutch.
Commenting on the transaction, Jeff Miehe, Partner at IGP said, "We have worked with Lincoln Partners in the past and are impressed with their hands-on approach that consistently creates value for all parties. Over the years Lincoln Partners has taken the time to build a strong relationship with us which we valued when seeking their financial advice."
Jim Hawkins, Chief Executive Officer of Weasler, added, "At this critical point in our company's history, Lincoln Partners helped identify a buyer that embraces our vision and will help continue to grow our business. The team at Lincoln Partners saw the transaction process the entire way through, ensuring we were comfortable with this crucial decision."
Marc Saiontz, Principal at American Securities, stated, "We have worked with many investment banks in buying companies. Lincoln Partners did an excellent job and stayed involved every step of the way, ensuring that any issues that arose were quickly and fairly resolved between both parties."
About Industrial Growth Partners
IGP is a $400 million private equity firm which provides equity capital to privately held, lower middle-market manufacturing and manufacturing services companies. IGP is one of very few investment firms in the U.S. that focus exclusively on the manufacturing sector. The firm invests equity in a wide range of transactions involving a change of ownership, such as management buyouts, leveraged buyouts, corporate divestitures, recapitalizations and management buy-ins. The firm also provides growth capital to privately held companies that require capital in order to expand their businesses.
About Lincoln Partners
Lincoln Partners is a leading middle-market investment bank specializing in mergers & acquisition services and private capital raising. Headquartered in Chicago with an additional office in New York City, Lincoln offers a depth of experience in a variety of industries and ranks as one of the five most active middle-market advisory firms in the United States. Its clients include major publicly traded companies, well-respected private equity firms and prominent entrepreneurial businesses. The firm distinguishes itself by committing hands-on senior banker attention, in-depth industry expertise and international resources to every transaction, thereby producing outstanding results for its clients. For more information, visit www.lincolnpartners.com.