Jet and Powermatic have new owners

Tenex Capital Management, a New York City-based private equity firm, acquired the machinery and tools business of Walter Meier AG of Switzerland, which includes the Jet, Powermatic and Wilton brands.

The transaction, made at auction, was expected to close by the end of October.

“In Walter Meier Tools, we have acquired a strong company with great brands and a growing market share in each of its segments,” Michael Green, CEO of Tenex Capital Management, said in a release. “The well-recognized brands of Jet, Wilton and Powermatic define the resilience and durability of the products. We look forward to supporting the company and its management team in executing its continuing growth initiatives.”

In 2012, Tenex acquired NAP Gladu, a manufacturer of carbide- and diamond-cutting tools for the wood, metal and plastic industries. Tooling manufacturers Techniks and BC Saw were acquired earlier this year and merged with NAP Gladu.

Comments (5) Comments are closed
5 Friday, 18 October 2013 02:19
James Baker
I sure hope you keep up the good standards that jets has seen to in there equipment I have a few of jets tools and they are very good tools in my wood working shop.

James Baker
4 Thursday, 17 October 2013 05:44
NY based , but where is the products manufactured? I am guessing not the USA , hope I am wrong.
I just bought a used powermatic today . I was told it was the last model made in US; How sad.
3 Thursday, 17 October 2013 05:09
Bill "Pop" Golden
If all these tool companys keep on merging before long all we'll need on the internet will be "TOOLS.COM". That'll be everybody there is.

Pop G
2 Wednesday, 16 October 2013 23:24
Mike Smith
I don't have much of an opinion about this, but it seems that all the major wood working companies change owners very often.
1 Wednesday, 16 October 2013 18:08
D Stuart Moore
Congratulations to the new owners. I have a shop full of JET and POWERMATIC machines. I, also have represented and sold these machines at woodworking shows for over nineteen years and would like to continue doing so. I am a firm believer in these lines and I hope and pray you keep the high quality of these tools as it is now. I offer my support to the new owners my support in whatever manner I can.