M&A Deal Summary

Zhejiang Wanfeng Technology Development Co. Acquires The Paslin Co.

On March 23, 2016, Zhejiang Wanfeng Technology Development Co. acquired machinery company The Paslin Co. from Tower Three Partners

Acquisition Highlights
  • This is Zhejiang Wanfeng Technology Development Co.’s 1st transaction in the Machinery sector.
  • This is Zhejiang Wanfeng Technology Development Co.’s 1st transaction in the United States.
  • This is Zhejiang Wanfeng Technology Development Co.’s 1st transaction in Michigan.

M&A Deal Summary

Date 2016-03-23
Target The Paslin Co.
Sector Machinery
Buyer(s) Zhejiang Wanfeng Technology Development Co.
Sellers(s) Tower Three Partners
Deal Type Add-on Acquisition
Advisor(s) Lincoln International (Financial)
Weil Gotshal & Manges (Legal)

Target

The Paslin Co.

Warren, Michigan, United States
The Paslin Co. is a full-service robotics integrator focused on the automotive market segment. Paslin provides edge manufacturing equipment to the global market, while creating cost cutting solutions where feasible.

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Buyer(S) 1

Buyer

Zhejiang Wanfeng Technology Development Co.

Xinchang, China

Category Company
Founded 1992
Sector Machinery
DESCRIPTION

Zhejiang Wanfeng Technology Development Co. Ltd. is a robotic manufacturer and system integrator. It supply robotic automation equipment series, low pressure die casting (LPDC) machine series, gravity die casting (GDC) machine series, different relative auxiliary equipment and the turn-key projects service.


DEAL STATS #
Overall 1 of 1
Sector: Machinery M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2016 M&A 1 of 1

Seller(S) 1

SELLER

Tower Three Partners

Greenwich, Connecticut, United States

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tower Three Partners is an operationally-oriented private equity firm that invests in US-based middle-market companies. Tower Three seeks growth-oriented opportunities and looks to commit $50 to $150 million per transaction. Tower Three Partners was founded in 2007 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 2 of 6
Sector: Machinery M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 3
State: Michigan M&A 1 of 1
Country: United States M&A 2 of 6
Year: 2016 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-09 Vexus

Lubbock, Texas, United States

Vexus is a provider of high-speed broadband services, including internet access, digital TV and other services to residential and business customers in northern Texas and southeastern Louisiana. Vexus was founded in 1981 and is based in Lubbock, Texas.

Buy $170M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-06 Parterre Flooring Systems

Mountville, Pennsylvania, United States

Parterre Flooring Systems is a designer and manufacturer of luxury vinyl tile, plank and sheet flooring products. Parterre offers a broad selection of premium vinyl flooring products that authentically replicate the beauty of nature in wood and stone colors and designs, as well as metallic surfaces and other unique finishes. Parterre Flooring Systems was established in 1991 and is based in Mountville, Pennsylvania.

Buy -