Friday, 13 August 2010
Wingate completes sale of Westmix
We are pleased to advise the completion of another highly successful transaction by the Wingate M&A team.
On Monday 9th August 2010 Wingate facilitated the completion of the sale of one of Australia’s foremost hardware industry players, Westmix, to US multinational, Ames True Temper (ATT). Westmix is a leading Australia-based manufacturer and supplier of products to the hardware industry. The Westmix business manufactures wheelbarrows, cement mixers, hand trolleys, compactors and brick saws under the Westmix and Kelso brands. ATT, which is headquartered in Camp Hill, Pennsylvania, is a global provider of non-powered lawn and garden tools.
This transaction represents a great outcome for the long standing owners of Westmix and an excellent fit for ATT, given their strategic intentions to entrench themselves in the Australian hardware market.
This transaction, together with other recently completed Wingate advised transactions (sale of majority interest in The Boost Group and the Delaware North expansion into Australian resorts), further reinforces the view that US and international companies are actively seeking investment opportunities in the region. Wingate has clearly demonstrated an ability to successfully represent large Australian and global companies and business owners in identifying, structuring and completing complex value enhancing transactions in Australia and across global borders.
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