Staff
The Ontario Teachers’ Pension Plan has agreed to acquire Bridon Ltd., a wire rope manufacturer, from Melrose Industries PLC.
The transaction, led by Teachers’ Private Capital (TPC), values U.K.-based Bridon at £365 million ($656 million).
“Bridon is an established innovator in the manufacturing sector,” says Jane Rowe, senior vice-president of TPC. “We look forward to working with the company’s proven management team to continue growth and pursue new opportunities.”
The deal is expected to close by the end of 2014 and is subject to receipt of required regulatory approvals.
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