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Walter Meier sells tools business to finance future acquisitions

Walter Meir has sold its tools business to private equity firm Tenex on November 13, the proceeds of which will be retained in full in order to finance acquisition-driven growth in the core business.

The sale will lead to a positive effect, running into the high tens of millions, in the 2013 annual result.

Walter Meier will now take time to re-invest the funds from the sale.

The portfolio of investments, divided between the two segments of the wholesale and service business (Walter Meier Machining Solutions and Walter Meier Climate) and the development and manufacturing business (Condair, Port-A-Cool and Barcol-Air) will establish the foundation for the long-term further development of the Walter Meier Group and provide the framework for its financial reports in the future.

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