Goodwin attorneys recently advised private investment firm The Watermill Group and its portfolio company Global Tubes on the announced sale of Global Tubes to AMETEK, Inc. for $200 million. Watermill acquired the business in 2012. Additional terms of the transaction were not disclosed.
Global Tubes, together with its subsidiaries, is a manufacturer of highly specialized precision metal tubing from a wide variety of metals and alloys including stainless steel, nickel, zirconium and titanium. Its products are used in highly engineered applications serving the aerospace, energy, power generation and medical markets. The company has annual sales of approximately $120 million. The company operates both Fine Tubes Ltd., based in the United Kingdom, and Superior Tube Company, Inc. in the United States.
Based In Lexington, Mass., The Watermill Group is a strategy-driven private investment firm that revitalizes companies to reach their full potential. For more than 30 years, Watermill has been acquiring, operating and improving companies. Watermill looks for businesses in which it can apply a unique combination of strategic insight and management expertise to re-imagine their future and drive growth.
AMETEK is a global manufacturer of electronic instruments and electro-mechanical devices with annual sales of $4.0 billion. The company is traded on the New York Stock Exchange under ticker “AME.”
The Goodwin team advising Watermill included Mark Kirshenbaum, Milena Tantcheva, Anne Cataldo and Victoria Kahn.
More information about the transaction is available in The Watermill Group’s press release.