October 17, 2005
American Securities Capital Partners Completes Acquisition of Weasler Engineering, Inc.
Affiliates of American Securities Capital Partners LLC (ASCP), the New York private-equity investment firm, announced today that in partnership with existing management they have completed the acquisition of Weasler Engineering, Inc. from its current owners. Terms of the transaction were not disclosed.
Weasler Engineering, Inc. is a leading manufacturer and distributor of mechanical power transmission components primarily for the agricultural and lawn and turf equipment markets. Weasler's products are sold to original equipment manufacturers, as well as to distributors of aftermarket replacement parts. The company is headquartered in West Bend, Wisconsin.
The current Weasler management team will continue to operate the business and will remain investors in the company. James T. Hawkins, president and chief executive officer of Weasler, said that he and his colleagues were "looking forward to working with ASCP and the opportunity to continue to grow the business and successfully implement our long-term strategy."
David Horing, a managing director at ASCP, expressed confidence in Weasler's future. "Jim Hawkins and the Weasler management team have built a terrific, market-leading business. We believe that their innovative engineering and high level of customer service have helped to create great opportunities for future growth," Horing said. "It is exactly the type of business ASCP likes to invest in -- profitable with a strong management team, leading market positions and outstanding growth prospects."
