CHICAGO,
IL - March 7, 2005 – WHI Capital Partners, a Chicago-based private
equity firm targeting investments in the smaller end of the middle
market, is pleased to announce its acquisition of AddisonMckee, the
global leader in the manufacturing of metal tube bending machines, end
forming machines, and precision tooling. 33 year-old AddisonMckee
employs more than 270 people at manufacturing facilities in Wilmington,
Ohio and Preston, Lancashire, U.K.
AddisonMckee has
developed its industry leading position by leveraging a highly skilled
workforce capable of designing and manufacturing tube bending, end
forming and tooling solutions to suit a wide range of applications -
large or small. The Company has experience in both electric and
hydraulic tube manipulation solutions and offers a complete line of
customized precision tooling and accessories. Its systems are used in
a variety of industries including automotive, shipbuilding, aerospace,
furniture, sporting goods, hospital equipment and others.
In
addition to its superior technical design capabilities and diverse
product offerings, AddisonMckee offers its customers unsurpassed
on-site service on a global basis through its skilled service engineers
and round-the-clock spare parts availability.
“AddisonMckee’s
industry-leading position, superior customer loyalty and history of
consistently delivering the highest quality, most innovative products
provide an outstanding platform investment for us,” said Eric Cohen,
Managing Partner, WHI Capital Partners. “We are excited about
partnering with AddisonMckee’s management team and pursuing the
numerous opportunities to drive both operational improvement and top
line growth.”
John Brown, AddisonMckee Managing Director
added, “This transaction paves the way for the accelerated growth of
our organization. As a management team we have completely embraced
this acquisition and look forward to leveraging our financial partner’s
resources and expertise.”
About WHI Capital Partners
WHI
Capital Partners is a private equity firm that invests in profitable,
mid-size companies with leading market positions and revenues of $10 -
100 million. WHI principals have significant experience and
demonstrated success - not only as owners and managers of closely-held
businesses, but also as investors in and advisors to middle market
companies. Backed by the financial strength of its parent firm William
Harris Investors, WHI Capital Partners has ample resources and the
financial strength to help a company capitalize on its opportunities
over the long-haul.
For more information, contact Eric Cohen at (312) 604-7901 or ecohen@whicapital.com.