European Capital invests €123 million in Avery buyout
02 Aug 2006
European Capital recently announced a €123 million investment in a one stop buyout of Avery Weigh-Tronix, a designer and manufacturer of weighing equipment to industrial and food retail customers. Simon Henderson, European Capital managing director said: “Avery Weigh-Tronix is one of only a few global competitors in the marketplace, holding a leading share in the core stable U.K. and U.S. weighing markets and in most of the niches in which it participates.` Headquartered in Birmingham, UK, Avery Weigh-Tronix say it provides aftermarket support services for its weighing products through one of the industry`s largest accredited service networks of over 1,000 global service technicians and over 400 distributor locations to an installed base of nearly 750,000 units. Gerald Bowe, chief executive officer at Avery Weigh-Tronix said: “European Capital is precisely the investment partner we need to move forward with our growth plans. This new partnership will add great value to Avery Weigh-Tronix in the near future and will better position us to excel in our target markets." Giles Cheek, European Capital director added: “Avery Weigh-Tronix has developed a strong reputation for high quality products and premier customer service together with longstanding customer relationships across a variety of industries and geographies. “We are looking forward to working with management to build on those relationships and supporting the company through the next stage of its development.`