WHITE PLAINS, N.Y., March 26, 2020 /PRNewswire/ -- Pickwick Capital advised Truelove & Maclean, Inc. a globally recognized leader in the supply of complex Precision Deep Drawn and Progressive Die stampings, on its sale to Swiss firm SFS Group AG. Terms of the transaction were not disclosed.
Founded in 1944, Truelove & Maclean is headquartered in Watertown, CT and specializes in complex, mission critical deep drawn and stamped components for a diverse customer base. The Company will continue to operate in Watertown under the strong stewardship of previous owner CEO Richard Bouffard.
"We continue to see significant growth opportunities for complex Deep Draw applications as they continue to be adopted across several industrial end markets segments," said Rich Bouffard. "Truelove & Maclean is very excited to partner with the highly motivated SFS Group Team– this merger will greatly benefit Truelove & Maclean's employees, customers, vendors and the local community."
Jens Breu, CEO of SFS Group commented, "This partnership will bring significant growth opportunities as we expand our Deep Drawing capabilities and capacity into North America. We appreciate the role Pickwick Capital played in bringing our companies together."
Len LaPorta, Head of Diversified Industrials & Manufacturing at Pickwick Capital added, "Truelove & Maclean's management team did a fantastic job positioning the company for success in the sector. SFS Group AG is the perfect global growth partner."
Added Rich Bouffard, "The Pickwick team's knowledge of the manufacturing sector and their ability to lead a very competitive sell-side process was a key element to our success."
About Pickwick Capital
Located in White Plains, NY, the firm is an independent, middle market investment banking firm providing strategic merger and acquisition advice, and capital raising and special situations advisory. www.pickwickcapital.com.
About Truelove & Maclean
T&M is ISO/IATF16949 standard certified using precision manufacturing operations that integrate the most stringent quality control processes. Stampings produced with high-speed presses from 75 ton to 105 ton capacities.
About SFS Group AG
SFS is a leading global provider of mechanical fastening systems and precision components. The Engineered Components segment has four divisions, Automotive, Electronics, Industrial and Medical. SFS Group has manufacturing sites and distribution companies at more than 100 locations in 26 countries. SFS Group AG 2019 revenues: CHF 1'781.4 Mio with a workforce of about 10,000.
Cynthia De Jong
SOURCE Pickwick Capital Partners