Walter Surface Technologies has been sold to ONCAP
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that The Walter Group has sold a majority stake in Walter Surface Technologies (“Walter” or the “Company”) to ONCAP, the mid-market private equity platform of Onex (TSX:ONEX), who is partnering with the existing management team. The Walter Group will retain a minority interest in the Company. Terms of the transaction were not disclosed.
Headquartered in Montreal, Canada, Walter is a leading provider of innovative solutions for the metalworking industry. Its premium, consumable metalworking solutions include abrasives, tooling, power tools, chemical solutions and welding process solutions. The Company sells its portfolio of products to a diverse array of end markets, including metal fabrication, transportation, construction, energy, mining, forestry and lumber, food and pharmaceuticals. Walter was founded in 1952 by Walter Somers, and over the past 30 years, his son Pierre Somers led the company and expanded it internationally.
Lincoln acted as the exclusive investment banking representative for Walter, working closely with the Company’s management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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