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Publish Date : 14-Feb-2013

Bloomfield Hills based O2 Investment Partners, LLC, a Midwest-based private equity firm has acquired Wyandotte\'s Mercury Manufacturing Co. Financial details of the deal were not revealed.

The Wyandotte firm deals in production and supply of specialized mechanical equipment to the air conditioning, refrigeration, automotive and heavy truck industries.

Followed by this acquisition, Mercury Manufacturing Co. which was founded in 1964, will continue to operate from its existing location. Mercury has an employee base of 63 people and supplies specialty valves and mechanical assemblies to clients all over the world.

Janice Wiegand, president of Mercury Manufacturing Co., said, “We looked far and wide to find a partner that shared our same values and strategic vision for Mercury. O2 is a great fit for us and we look forward to working with them to further grow the business while continuing to provide the highest level of service to our existing blue chip customer base.”

Mercury Manufacturing Co., said, “The company’s ability to design its own automated assembly and test equipment has given it a strong competitive advantage in cost-effectively manufacturing its products at volumes required by customers.”

Expressing his excitement on the acquisition, Jay Hansen, president of O2 Investment Partners, stated that he looks forward to the Wyandotte company growing in future.

He added, “We are very pleased with our investment in Mercury and its employees. The vision that Jan Wiegand and the management team have developed for this business is truly exciting and we look forward to supporting the Mercury team in achieving their plan. We believe that Mercury has the right combination of a talented and experienced workforce, efficient engineering and manufacturing processes, blue chip customer base, and diversified market opportunities to be extremely competitive in the specialty valve market, which we expect to present significant growth opportunities in the years ahead.”

“We also view Mercury as an exciting platform for developing or acquiring additional businesses in the high-precision machining and specialty valve sector that serve other industries and are actively seeking add-on acquisitions. With this team and the support of our financial partner, Comerica Bank, we are very optimistic about realizing these growth opportunities.”

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