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Ontario Teachers’ Pension Plan to acquire Bridon Limited

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The Ontario Teachers’ Pension Plan has agreed to acquire Bridon Limited, a manufacturer of wire rope, from Melrose Industries.

The transaction, led by Teachers’ Private Capital (TPC), values UK-based Bridon at GBP365 million (approximately USD656 million), subject to customary adjustments, and is expected to close by the end of 2014 (subject to receipt of required regulatory approvals).
 
Headquartered in Doncaster, Bridon operates manufacturing units worldwide, along with technical and sales offices, supported by a global network of agents and distributors. The company’s mission-critical products provide solutions to technically demanding challenges in industrial, mining, oil and gas extraction, marine and other specialized areas of engineering.
 
“Bridon is an established innovator in the manufacturing sector. We look forward to working with the company’s proven management team to continue growth and pursue new opportunities,” says Jane Rowe, senior vice-president of TPC.
 
“We are extremely pleased to have Teachers’ invest in our company. Its support and experience will provide a strong base for our future,” says Jonathan Templeman, CEO of Bridon.
 
TPC activities include leading deals on a sole or partnered basis, investing in private equity funds and co-investing with other like-minded private equity funds. TPC manages a global portfolio valued at approximately USD14.8 billion.

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