Product category:
Plant Inspection and Cleaning
News Release from: Wheelabrator Group
Edited by the Processingtalk Editorial
Team on 21 February 2006
Wheelabrator Group announce new owner...
The world's leading surface preparation and finishing equipment specialist Wheelabrator Group is pleased to announce new ownership, backing the Group expansion into growth markets
The world's leading surface preparation and finishing equipment specialist Wheelabrator Group is pleased to announce new ownership Mid Europa Partners (MEP), through its Emerging Europe Convergence Fund, has completed the acquisition of all outstanding WG equity from an investment group led by Bard and Company
This article was originally published on Processingtalk on 10 Nov 2005 at 8.00am (UK)
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"This is a major milestone in our development," commented Robert E Joyce, chief executive officer, Wheelabrator Group.
"Central Europe has a key role in our growth strategy and MEP brings to the Group investment and geographical expertise in the market segments we have targeted in the region.
In line with this strategy we are significantly increasing our main manufacturing activities in Poland, to further strengthen our position in these markets.
Central Europe is also at the very heart of the MEP investment philosophy, making them the perfect partner for us to achieve our next level of growth".
"Our desire to support Wheelabrator Group is a clear vote of confidence in its business, employees and growth prospects.
We look forward to working with the management team to achieve the growth potential of this great company," said Zbigniew Rekusz, a director of Mid Europa Partners who led the transaction.
This change of ownership will not affect the Wheelabrator current strategy.
The Group will continue to pursue the action plan it developed over the last three years following its spin off from Veolia Environment.
As a result of the new investment, Wheelabrator Group corporate functions (currently located in Colorado), will transition to Altrincham over the course of the coming year.
Mr Joyce said: "The message to all our existing stakeholders, including staff and customers, is that it's very much business as usual.
Our customers will continue to receive a very high quality of service in all respects, delivered by the same people who provide it now.
Where change will be evident is through our expansion into new markets and improvement in the solutions we can provide our customers". Request free introductory details about products from Wheelabrator Group ...
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