Lincoln Partners Represents Joslyn Manufacturing Company in Sale of Assets to MacLean Power Systems, a subsidiary of MacLean-Fogg Company
Joslyn Manufacturing Company (JMC), a subsidiary of Danaher Corporation (NYSE: DHR), has completed the sale of its assets to MacLean Power Systems LLC (MPS). Both JMC and MPS are headquartered in Franklin Park, Illinois. Lincoln Partners initiated this transaction, assisted in the negotiations and served as the exclusive financial advisor to Danaher Corporation and JMC. The terms of the sale were not disclosed.
The acquisition of JMC's assets by MPS creates one of the broadest-based suppliers of Transmission, Distribution, and Substation products for the electric utility industry. JMC's major product lines include pole line hardware, anchors and surge arresters. MacLean Power System's major product lines include connectors, clamps, transmission and distribution ferrous and non-ferrous hardware, fiberglass products and composite insulators. The combined companies are better positioned to service and support the rapidly consolidating utility and telecommunications markets.
With this purchase, MacLean Power Systems will operate out of ten facilities in four countries and will employ approximately 1,300 people. MPS is owned by privately held MacLean-Fogg Company, headquartered in Mundelein, Illinois.
About Lincoln Partners
Lincoln Partners is the second largest investment bank headquartered in Chicago, specializing in middle-market mergers and acquisitions, private capital raising and financial recovery for global clients. The firm's fundamental commitment is to complete assignments on the best terms for clients by committing hands-on attention, ingenuity and significant expertise to every transaction.