21 July 2021
Hardinge, Inc., a leading international provider of advanced metal-cutting solutions based in Berwyn, USA, has entered into a definitive agreement under which Hardinge will acquire WEISSER Group, a global leader with regard to the production of multifunctional precision turning machines and turning centers. The acquisition enhances Hardinge’s Turning and Milling platform with an attractive portfolio of products and technologies. WEISSER was founded in 1856 and has its headquarters in St. Georgen (Black Forest), Germany, with sales of approximately $90 million USD. Taylor Wessing, led by Munich-based partners Philip Cavaillès and Hendrik Boss, advised Hardinge, Inc. on the transaction.
WEISSER Group consists of J.G. Weisser Söhne GmbH & Co. KG (JGWS), Weisser Präzisionstechnik GmbH & Co. KG (WPT), Weisser GmbH and its subsidiaries Weisser Corporation (USA), Weisser Machine Tool (Shanghai) Co., Ltd. and Weisser Machine Tool (Dalian) Co., Ltd. (both China). WEISSER Group is a world leading German manufacturer and turnkey solution provider of high precision, multifunctional turning machines and turning centers as well as automation solutions.
Hardinge, Inc., a portfolio company owned by affiliates of Privet Fund Management LLC and Privet Fund LP, is the trusted global provider of high precision, computer-controlled machine tool solutions for critical, hard-to-machine metal parts and advanced workholding accessories. With over 125 years of experience, Hardinge offers the largest 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. 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. The company designs, manufactures, and distributes machine tools in over 65 countries across North America, Europe, and Asia.
Privet Fund Management LLC is a private investment firm focused on investing in and partnering with small capitalization companies. The firm has flexible, long-term capital with the ability to effectuate investments across all levels of the capital structure, including going-private transactions. Privet was founded in 2007 and is based in Atlanta, GA.
Advisors to Hardinge, Inc.:
Taylor Wessing: Dr Philip Cavaillès (Lead Partner, Corporate/M&A), Dr Hendrik Boss (Lead Partner, Corporate/Restructuring), Dr Daniel Schrembs (Salary Partner), Till Schwichtenberg (Associate), Fritz Krings (Associate) (all Corporate/M&A), Julia Siedhoff (Senior Associate), Dr Josepha Biebl (Associate) (both Corporate/Restructuring), Dr Benedikt Rohrßen (Partner), Dr Michael Kieffer (Salary Partner), Michael Wietzorek (Associate) (all Commercial/Litigation), Marc Gimmy (Partner), Katja Schiffelholz (Salary Partner), Klara Pototzky (Associate) (all Employment), Dr Dietrich Kamlah (Partner), Dr Michael Schächinger (Senior Associate) (both Patents), Andreas Bauer (Partner), Dr Verena Ahmann (Salary Partner), Dr Monika Bucher (Associate) (all IP), Theresa Haßlberger (Senior Associate, Real Estate), Dr Tim Schwarz (Salary Partner), Dr Jonathan Kropp (Salary Partner), Dr Julia Petersen (Associate) (all IT/Data Protection) (all Munich), Dr Bert Kimpel (Partner), Rudi Hasenberg (Salary Partner) (both Tax), Ulf Gosejacob (Partner, Banking/Finance), Kai Schlender (Senior Associate, China Desk) (all Frankfurt), Dr Marco Hartmann-Rüppel (Partner), Dr Stefan Horn (Salary Partner), Lara Skotki (Associate) (all Competition, Hamburg), Dr Jörg Henkel (Public Law, Dusseldorf).
With this investment, Emerald Technology Ventures supports the development and growth of Colibri Energy, a provider of lithium-ion battery systems for vehicles in airport and industrial logistics.
by multiple authors
by multiple authors
by multiple authors