Product category:
Weighing systems, Strain gauges
News Release from: Avery Weigh-Tronix
Edited by the Processingtalk Editorial
Team on 03 August 2006
European Capital buys up Avery
Weigh-Tronix
The One Stop buyout of Avery Weigh-Tronix, the first buyout by the European Capital London office, has been completed at a cost of Euro123Million
European Capital SA, SICAR, has announced it has invested Euro123million (US$157million) in the One Stop buyout of Avery Weigh-Tronix Holdings Limited, a leading designer and manufacturer of weighing equipment and solutions to industrial and food retail customers worldwide "We are pleased to announce the One Stop buyout of Avery Weigh-Tronix, the first buyout completed by the European Capital London office," said Ira Wagner, President of European Capital Financial Services, the sub-investment manager of European Capital
This article was originally published on Processingtalk on 5 May 2008 at 8.00am (UK)
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"Avery Weigh-Tronix is one of only a few global competitors in the marketplace, holding a leading share in the core stable UK and US weighing markets and in most of the niches in which it participates," said Simon Henderson, European Capital Managing Director.
"This makes Avery an especially appealing investment opportunity for European Capital.
"Avery Weigh-Tronix has developed a strong reputation for high quality products and premier customer service together with longstanding customer relationships across a variety of industries and geographies" said Giles Cheek, European Capital Director.
"We are looking forward to working with management to build on those relationships and supporting the company through the next stage of its development".
Avery Weigh-Tronix designs and manufactures weighing products and systems and provides aftermarket services to industrial and food retail customers worldwide.
Headquartered in Birmingham, UK the Company also provides aftermarket support services for its weighing products through one of the industry's largest accredited service networks of over 1,000 global service technicians and over 400 distributor locations to an installed base of nearly 750,000 units.
"European Capital is precisely the investment partner we need to move forward with our growth plans.
This new partnership will add great value to Avery Weigh-Tronix in the near future and will better position us to excel in our target markets," said Avery Weigh-Tronix Chief Executive Officer Gerald Bowe: "We are looking forward to continuing to serve our customers with world-class products that can be tailored and combined with a systems package to suit their specific requirements.".
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