Pawcatuck, Conn. — Davis-Standard LLC is buying Maillefer International Oy, a European maker of machinery for extrusion coating of wire and cable as well as production of pipe and tubing, the Pawcatuck-based equipment maker announced Aug. 9.
The deal is expected to close in late August or early September, pending regulatory approvals, Davis-Standard officials said. Terms were not disclosed.
"Today is an important day for Davis-Standard and Maillefer as we combine two strong brands into a market-leading global extrusion systems and services provider to a world-class customer base," said Jim Murphy, Davis-Standard president and CEO. "Maillefer is a global leader that has built a strong brand based on operational excellence, technology, and providing superior customer solutions. We are excited to expand our organization with Maillefer's talented workforce and outstanding management team."
Maillefer has factories in Ecublens, Switzerland and Vantaa, Finland.
Maillefer CEO Lars Fagerholm said the two companies share common values. "Davis-Standard and Maillefer are an excellent fit," he said.
Davis-Standard, which makes converting and extrusion equipment, is majority owned by ONCAP, the middle-market investing unit of private equity firm Onex Corp. of Toronto.