Windjammer Capital Investors LLP, a leading private equity firm with offices in Waltham, MA and Newport Beach, CA, announced that it has, in partnership with management, acquired Rotex, Inc. ("Rotex"), a leading global provider of screening and separation equipment. GE Antares and Freeport Financial provided senior debt financing. Terms of the transaction were not disclosed.
Rotex, headquartered in Cincinnati, Ohio and with locations in England, Belgium, Germany, Japan and China, is a pioneer and global leader in the development of screening and separation equipment used in a broad range of process industries, including industrial minerals, food, grain, chemicals and plastics. Rotex specializes in providing high-volume, solid-to-solid gyratory separation equipment to customers around the world who rely on Rotex machines to deliver 24/7 performance, consistent product quality and precise end product output. The Company has established long term and well diversified relationships with customers in a broad range of industries globally. Rotex has leveraged its market leading position and breadth of capabilities to build a large installed machine base worldwide, which it supports through the supply of aftermarket replacement parts.
"As a niche market leader, manufacturing mission critical products that are sold to a diversified, global customer base, the acquisition of Rotex represents a great fit with our investment philosophy", commented Greg Bondick, Principal of Windjammer. "Given the company's 160 year plus operating history, large installed machine base and significant recurring repair and replacement business, we were excited to maximize our investment by providing both the equity and subordinated debt to complete this transaction."
John Donahue, Director of Windjammer, added: "We believe Rotex offers an excellent platform for growth. We are excited to partner with Bill Herkamp, CEO and the rest of the Rotex team to grow the company's operations through a combination of organic sales and new product introductions, as well as through add-on acquisitions."
"We are very pleased to partner with the Windjammer team," stated Bill Herkamp, CEO of Rotex. "Having been a privately owned business, we feel that the introduction of an experienced private equity investor will enable us to pursue growth and profitability initiatives to further enhance Rotex's market leadership, product offering and geographic presence.
For additional information regarding Rotex, Inc. please visit their website at www.rotex.com