Sale of Tekra, LLC and Trient, LLC to Schweitzer-Mauduit International, Inc.

Industrial
Sale of Tekra, LLC and Trient, LLC to Schweitzer-Mauduit International, Inc.

Summary

Baird served as the exclusive financial advisor to EIS, Inc. and Audax Private Equity on this transaction

About

EIS, Inc. (“EIS”), a portfolio company of Audax Private Equity (“Audax”), recently completed the sale of its Tekra, LLC and Trient, LLC divisions (collectively, “Tekra” or the “Company”) to Schweitzer-Mauduit International, Inc. (“SWM”) (NYSE: SWM) at a purchase price of $155 million in cash.

EIS is a leading distributor, fabricator and converter of electrical process materials, wire, cable and assemblies serving end-user segments in electrical power and related markets. EIS provides more than 100,000 products from 38 branches and four fabrication facilities to more than 20,000 customers across North America. EIS is headquartered in Atlanta, Georgia.

Audax Private Equity is a leading alternative investment manager with offices in Boston, New York and San Francisco. Since its founding in 1999, Audax has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 130 platforms and over 850 add-on companies and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations and significantly increase equity value. With more than 250 employees and over 100 investment professionals, Audax is a leading capital partner for North American middle market companies. Audax is headquartered in Boston, Massachusetts.

Tekra manufactures and distributes high performance plastic films, pressure sensitive adhesives and other specialty flexible material solutions. The Company enhances the surface chemistry or configuration of base films and materials to provide engineered solutions that meet exacting performance, aesthetic, adhesion and durability requirements for high value applications in end markets including medical, graphics & digital media, light vehicle, electronics and industrial. Tekra has two manufacturing facilities and is headquartered in New Berlin, Wisconsin.

SWM is a leading global performance materials company. SWM’s highly engineered papers, films, nets and nonwovens are designed and manufactured using natural fibers and polymers for a variety of industries and applications. End markets served include filtration, transportation, infrastructure and construction, medical, industrial, tobacco, energy, food services and home décor. SWM and its subsidiaries manufacture on four continents, conduct business in over 90 countries and employ approximately 3,400 people worldwide. SWM is headquartered in Alpharetta, Georgia.
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Industrial
Sale of Tekra, LLC and Trient, LLC to Schweitzer-Mauduit International, Inc.
Date
March 2020
Company
EIS, Inc.
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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