13 Jun 2012
Military-bridge-builder WFEL sold
Dunedin, an Edinburgh-based private-equity firm, has sold Stockport-based military-bridge builder WFEL to German tank maker Krauss-Maffei Wegmann in what is believed to have been a £60 million deal. WFEL has increased its sales by 70% (to £36.2 million) since being acquired by Dunedin in 2006 and has increased its head count by 15% (to about 230 staff).
Dougal Bennett, a partner at Dunedin, said: “This is an example of UK manufacturing at its best. In the past few years, the company has seen significant international growth and enters KMW’s ownership with an enviable long-term order book.”