Surface preparation and finishing equipment specialist Wheelabrator Group has announced new ownership. Mid Europa Partners (MEP), through its Emerging Europe Convergence Fund II LP, has completed the acquisition of all outstanding WG equity from an investment group led by Bard & Co.
“This is a major milestone in our development,” said Robert E Joyce Jr, chief executive officer, Wheelabrator Group. “Central Europe has a key role in our growth strategy, and MEP brings to the group investment and geographical expertise in the market segments we have targeted in the region. In line with this strategy, we are significantly increasing our main manufacturing activities in Poland to further strengthen our position in these markets.”
This ownership change will not affect Wheelabrator's strategy. The group will continue to pursue the action plan it developed over the past three years after its spinoff from Veolia Environment. As a result of the new investment, Wheelabrator Group's corporate functions (currently in Golden CO), will transition to Altrincham in the coming year.