Precision engineering specialist Allied Machine & Engineering Corp. acquires majority shareholding in Wohlhaupter GmbH
Allied Machine & Engineering Corporation, located in Dover, Ohio has acquired a majority of the shares of Wohlhaupter GmbH of Frickenhausen, Stuttgart as well as significant assets in the US-subsidiary Wohlhaupter Corp. in Dayton, Ohio. Occasion of the sale of shares to the strategic investor was a succession plan. The American metal-cutting specialist will fully integrate the sales of Wohlhaupter products in its nationwide sales force in the United States to improve the opportunities for expansion. Wohlhaupter has been producing innovative precision drills for over 87 years and is known all over the world as a leading manufacturer of digital boring tools. In addition to expanding in the respective home markets of North America and Europe, both companies are aiming for a much stronger presence in Asia, for which the existing subsidiary Wohlhaupter India provides a solid basis. Frank Wohlhaupter increases his stock and remains on board as managing partner of Wohlhaupter GmbH.
Menold Bezler provided the American family-owned business with comprehensive legal advice throughout the entire transaction process, which was distinguished by the internationality and complexity of the deal structure as a result of the existing acquisition of the US subsidiary Wohlhaupter Corp.