CMC-KUHNKE Joins Industrial Physics Family
December 10, 2014
We are pleased to announce that Union Park Capital (UPC), a US-based private equity firm, has acquired CMC-KUHNKE Worldwide. As a result, CMC-KUHNKE will join Testing Machines Inc. (TMI) as an independent operating entity under UPC’s Industrial Physics Holdings platform.
CMC-KUHNKE's customers can expect the same commitment to quality engineering and dedicated customer service. "They are keeping my existing team in place and giving them the tools to drive the business forward," says Heinz Grossjohann who is stepping down as President and Owner. "The result will be great for our customers, my loyal employees, and the brand reputation we've all worked so hard to build."
Alex Grossjohann, now General Manager of Worldwide operations, sees the acquisition as nothing but positive. "We will retain an important measure of autonomy, but at the same time gain direct benefit from an exceptionally strong team of operators and investors. Our customers will see the same company and the same people they've always known, but we'll have greater capability to serve their needs – that's important to us."
Karl Boone, CEO of Union Park's Industrial Physics platform added, "CMC-KUHNKE is the gold standard at addressing customer needs. They have a long history of growth for good reason. Their name is synonymous with the highest levels of quality assurance in the metal packaging industry – they are known for innovation, service, and precision, exactly the qualities we care most about."
About Testing Machines, Inc.
Testing Machines, Inc. (TMI) was founded in 1931 and is headquartered in New Castle, DE. TMI manufactures and markets materials testing instruments for the paper, pulp, film, foil, ink, coatings, nonwoven and corrugated industries. TMI has a network of sales offices and agents throughout the US and globally in over 50 countries. Its market-leading brands include TMI, Fibro, Messmer Büchel, Lako Seal Testers, TMI Trading (Shanghai) Co., Ltd., and Adamel L'Homargy and it holds #1 market positions in the measurement of friction, thickness, adhesion, and package seal testing. For more information, visit www.testingmachines.com.
About Union Park Capital
Union Park Capital is a private equity firm solely focused on lower middle-market Industrial Technology companies. Union Park takes a long-term perspective to help stakeholders build value over time, and drives value creation through profitably growing a business, not financial engineering. Its flexible partnership approach can provide investment for any combination of ownership liquidity, internal growth initiatives, or acquisitions. For more information, visit www.union-park.com.