M&A Deal Summary

Freudenberg Simrit & Co. KG Acquires Precision Industries

On October 31, 2007, Freudenberg Simrit & Co. KG acquired machinery company Precision Industries from Three Cities Research

Acquisition Highlights
  • This is Freudenberg Simrit & Co. KG’s 1st transaction in the Machinery sector.
  • This is Freudenberg Simrit & Co. KG’s 1st transaction in the United States.
  • This is Freudenberg Simrit & Co. KG’s 1st transaction in Wisconsin.

M&A Deal Summary

Date 2007-10-31
Target Precision Industries
Sector Machinery
Buyer(s) Freudenberg Simrit & Co. KG
Sellers(s) Three Cities Research
Deal Type Add-on Acquisition

Target

Precision Industries

Germantown, Wisconsin, United States
Precision Industries Corp. is a manufacturer of coil processing equipment, carbon electrode furnaces for the steel industry, and conveyor systems for coal mines.

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Buyer(S) 1

Buyer

Freudenberg Simrit & Co. KG

Weinheim, Germany

Category Company
Sector Automotive
DESCRIPTION

Freudenberg Simrit GmbH & Co. KG - Simrit products in nearly all industrial equipment, from agricultural implements and construction machinery to escalators, respiratory protection equipment, wind turbine systems, oil drilling platforms, all the way to highly sensitive aviation applications and medical technology and many more applications.


DEAL STATS #
Overall 1 of 1
Sector: Machinery M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Wisconsin M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2007 M&A 1 of 1

Seller(S) 1

SELLER

Three Cities Research

New York, New York, United States

Category Private Equity Firm
Founded 1976
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Three Cities Research (TCR) is a private equity firm focused on investing in underperforming companies. TCR looks for change of control situations where the firm's involvement can lead to improvements. Broad sectors of interest include manufacturing, distribution, industrial, services, and retail. Three Cities Research was formed in 1976 and is based in New York City.


DEAL STATS #
Overall 7 of 10
Sector: Machinery M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 4
State: Wisconsin M&A 1 of 1
Country: United States M&A 7 of 10
Year: 2007 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-05 Masterplan

Chatsworth, California, United States

Masterplan is an independent service organization providing maintenance and repair services for biomedical and diagnostic medical equipment for integrated health systems,hospitals, medical groups, and free-standing surgical and diagnostic centers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-02 At Home Group

Coppell, Texas, United States

At Home Group is a retailer of decorative home accessories, seasonal products, and craft materials. At Home Group offers more than 50,000 on-trend home products to fit any budget or style, from furniture, mirrors, rugs, art, and housewares to tabletop, patio, and seasonal decor. At Home Group was founded in 1979 and is based in Coppell, Texas.

Sell -