M&A Deal Summary

Privet Fund Acquires Hardinge

On May 28, 2018, hedge fund Privet Fund acquired machinery company Hardinge for 245M USD

Acquisition Highlights
  • This is Privet Fund’s 1st transaction in the Machinery sector.
  • This is Privet Fund’s largest (disclosed) transaction.
  • This is Privet Fund’s 1st transaction in the United States.
  • This is Privet Fund’s 1st transaction in New York.

M&A Deal Summary

Date 2018-05-28
Target Hardinge
Sector Machinery
Buyer(s) Privet Fund
Deal Type Going Private
Deal Value 245M USD
Advisor(s) BMO Capital Markets (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

Hardinge

Elmira, New York, United States
website
Hardinge is a global provider of high precision, computer-controlled machine tool solutions for critical, hard-to-machine metal parts and advanced workholding accessories. Hardinge offers a variety of metal cutting turning machines, grinding machines, machining centers, collets, chucks, index fixtures, repair parts, standard and specialty workholding devices, and other machine tool accessories to provide a full solution for your business needs. Hardinge’s solutions can be found in a broad base of industries including aerospace, agricultural, automotive, construction, consumer products, defense, energy, medical, technology and transportation. Hardinge is based in Berwyn, Pennsylvania.

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Buyer(S) 1

DESCRIPTION

Privet Fund Management is a hedge fund that looks to make event-driven investments in small-cap companies. Privet Fund Management was established in 2007 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 1 of 1
Sector (Machinery) 1 of 1
Type (Going Private) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1