Home » Gleason Corporation Acquires The Pfauter Group
Gleason Corporation Acquires The Pfauter Group
September 1, 1997
Gleason Corporation has announced that agreement has been reached on all terms to acquire for approximately $36 million in cash the Hermann Pfauter Group, including, among other operations, Hermann Pfauter GmbH & Co., a privately held leading producer of gear equipment based in Ludwigsburg, Germany; its 76% interest in Pfauter-Maad Cutting Tools, a leading cutting tool manufacturer basked in Loves Park, IL; and Pfauter-Maag management's 24% ownership interest in that company. The acquisition includes all assets and liabilities, including the assumption of approximately $56 million in bank debt.