Triton has signed an agreement to acquire WernerCo
Schaffhausen (Switzerland)/Greenville, PA (United States of America)/Frankfurt (Germany), 15 May 2017 - Funds advised by Triton ("Triton") have signed an agreement to acquire WernerCo, a fully integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Terms of the acquisition were not disclosed. The transaction is subject to regulatory approval in relevant jurisdictions and is expected to close following receipt of those approvals.
"We look forward to supporting WernerCo’s management and employees as a stable owner by investing in and supporting the growth and development of the company. Our strong industry expertise, gained through other investments and strengthened by senior industry experts, will contribute in taking Werner to the next level. We look forward to working together with the management team and the Board of Directors in building a stronger company", said Peder Prahl, Director of the General Partner for the Triton funds.
"WernerCo, as the market leader in the US, has been building its presence internationally over the last ten years. This transaction is an important milestone, enabling us to continue with our strategic efforts. We welcome Triton as a new majority owner and a respected investor who will support us in developing and executing our plans for delivering new and innovative products to our global customers, expanding our market positions in all territories and continue to be the leader in our industries", said William T. Allen, Chairman of WernerCo.
WernerCo is a privately owned, fully-integrated, international manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment. Its portfolio of industry leading brands include Werner, KNAACK®, WEATHER GUARD®, Youngman®, BoSS®, Centaure, Duarib, Haemmerlin and Bailey. WernerCo has manufacturing, warehousing, sales, distribution and office facilities in the United States, Australia, Canada, China, France, Hungary, Mexico, Philippines, Vietnam and the United Kingdom. Werner’s global headquarters are in Schaffhausen, Switzerland and its US headquarters are in Greenville, Pennsylvania.
For further information: www.wernerworldwide.com
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of around €13.9 billion and around 86,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.
For further information: www.triton-partners.com