Industrial Manufacturing & Distribution, Industrials | Mergers & Acquisitions, Sponsor Related

World Dryer Corporation Acquired by Rexnord

  • TM Capital served as exclusive financial advisor to World Dryer Corporation, a portfolio company of NewCastle Partners and Greyrock Capital Group, in its sale to Zurn Industries, LLC (“Zurn”), a subsidiary of Rexnord Corporation (NYSE: RXN) (“Rexnord”)
  • Founded in 1948, World Dryer is an iconic, globally respected manufacturer of commercial electric hand dryers sold under the World Dryer®, American Dryer® and Nova® brands with the largest worldwide installed product base
  • Rexnord, with a market value of over $2.5 billion, is a growing multi-platform industrial company with a range of trusted brands including Zurn®, which manufactures engineered washroom and plumbing solutions for commercial, municipal, and industrial markets
  • World Dryer’s innovative commercial washroom products outperform competitors’ offerings in key features such as dry time, sound level, hygiene, and energy efficiency
  • Rexnord plans to accelerate World Dryer’s growth by leveraging Rexnord’s global sales and distribution capabilities

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Client Testimonial

Selecting TM Capital to represent World Dryer Corp. in an exclusive sale process after a ten year investment was the catalyst that enabled us to realize a premium value for the business.  Having known the principals of TM for over 25 years, I was very well aware of their knowledge, experience, capabilities and integrity.  They were quick to grasp the corporate strategy, market trends and opportunities for growth. TM’s skill in communicating the investment thesis to potential acquirers was critical in achieving this successful outcome.  TM provided efficient and flawless execution and top-level attention at every step of the process.”
Jack Lowden, President, NewCastle Partners