Sale of Walterscheid Powertrain Group to One Equity Partners

Industrial
Sale of Walterscheid Powertrain Group to One Equity Partners

Summary

Baird served as exclusive financial advisor to Melrose Industries plc and Walterscheid Powertrain Group on this transaction

About

Melrose Industries plc (“Melrose”) (LSE:MRO), recently completed the sale of Walterscheid Powertrain Group (“WPG”), (formerly known as GKN Off-Highway Powertrain) to One Equity Partners (“OEP”). Terms of the transaction were not disclosed.

Melrose was founded in 2003 to acquire manufacturing businesses with strong fundamentals, seeking to improve them by a mixture of significant investment and changed management focus, before selling them and returning the proceeds to shareholders. In April 2018, Melrose acquired WPG as part of the acquisition of GKN plc. Melrose is headquartered in London, England.

WPG is a global provider of connected and smart powertrain solutions and complete in-service support for the world’s leading off-highway and industrial equipment manufacturers. WPG continuously develops new technologies and customer solutions which deliver efficiency in the agriculture, construction, mining, utility vehicle and industrial markets and offers through-life services for all powertrain products and systems between power source and power applied. With its global platform across 4 continents, WPG is the technology partner and innovation leader to the leading global OEMs. This together with a comprehensive Aftermarket and Service offering positions the group for above market medium term growth. WPG is headquartered in Lohmar, Germany.

OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. OEP builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. OEP has offices in New York, Chicago, and Frankfurt and is headquartered in New York, New York.
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Industrial
Sale of Walterscheid Powertrain Group to One Equity Partners
Date
August 2019
Company
Melrose Industries plc
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
North America

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