Historic Sheffield manufacturer sold to US private equity firm

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MBO completes at Sheffield tech business Servelec
Credit: Shutterstock.com/ YURALAITS ALBERT

Historic Sheffield knife manufacturer, TGW, has been acquired by New York-based private equity firm Blue Wolf Capital Partners in a deal advised by Walker Morris.

CEO and Chairman, Richard Wolstenholme and President Jeff Litmer will transition oversight to TGW’s existing management team, which is led by Steve Corbett in the UK and Tim White in the United States.

Walker Morris fielded a team of multidisciplinary specialist lawyers to advise TGW on the acquisition including.

Steve Corbett, COO of TGW, said: “TGW is excited to embark on this next chapter in our long, storied history and think Blue Wolf will be a great partner in this.

“We are fortunate enough to have many growth opportunities in our future, and Blue Wolf shares our vision of continuing to grow and evolve as a company.

“With this new partnership we will continue investing in new products and providing excellent service to our valued customers.”

Richie Lamb added: “We are sure that with the support of Blue Wolf Capital, TGW will further enhance their capabilities and continue to achieve their future growth ambitions.”