Wolverine Tube has sold its London, Ontario, and Canada tube operations to RoyCap Merchant Banking Group
Lincoln International, a global mid-market investment bank, today announced the sale by Wolverine Tube, Inc. (OTCBB:WLVT) (“Wolverine”) of its London, Ontario, Canada copper tube operations (“Wolverine-London”) to an affiliate of Royal Capital Management Corp., a Toronto, Ontario, Canada-based private equity investor. The transaction includes 100% of the stock of the Company in exchange for US$42 million in cash, subject to certain adjustments at closing.
Lincoln International worked closely with Wolverine and the management of Wolverine-London to evaluate the transaction alternatives, coordinate the due diligence process and assist with the negotiation of the purchase agreement in an expedited timeframe.
About Wolverine Tube, Inc.
Wolverine Tube, Inc. is a world-class quality partner, providing its customers with copper and copper alloy tube, fabricated products, and metal joining products. Further information about Wolverine and its subsidiaries is available on its websites at www.wlv.com and www.silvaloy.com.
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