Blue Wolf acquires majority stake in TGW

The GP drew capital for the transaction from Blue Wolf Capital Fund IV, a $540m vehicle that held its final close in October 2017 and made its first investment in January 2018.

Under its new ownership structure, TGW will look to invest in product development. The business expanded into the North American market in 1993 and opened a manufacturing facility in India in 2011.

As part of the deal, TGW's CEO and chairperson Richard Wolstenholme and president Jeff Litmer will pass on their responsibilities to chief operating officer Steve Corbett and to sales and marketing manager Tim White.

Company
Founded in 1908 and headquartered in Sheffield, TGW produces machine knives used in the food processing, packaging, printing and tobacco industries. It has a headcount of 160, with additional offices in Chicago, Kentucky and India.

According to publicly available documents, TGW generated a turnover of £17.4m in the year ending in March 2017, with an operating profit of £4.1m. International sales accounted for 88% of its revenues during that period.

People
Blue Wolf Capital – Michael Ranson (partner); Rick Tattersfield (operating partner).
TGW – Steve Corbett (chief operating officer); Tim White (sales and marketing manager).

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