Swiss private equity house Cross Equity Partners has acquired a majority stake in German wire mesh producer WDM.
WDM produces spot-welded wire mesh, bent wire parts, wire mats and grid elements used across a range of sectors.
The company was founded in 1994 and employs around 125 people. It operates out of Wolfshagen and manufactures on average 35,000 meshes every day.
Cross managing partner Michael Petersen said WDM is a “market-leading provider in an attractive niche market” and the firm sees “many opportunities in further international markets, as well as in related business segments.”
With investment from Cross, WDM will look to expand its product range and move into new markets, targeting international expansion in regions such as northern and eastern Europe.
At the end of last year, Cross sold Swiss bathroom accessories provider Spirella after a seven-year hold. French trade buyer Menage Selection Valnet will pick up the business.
Alongside its headquarters in Embrach, the business has two subsidiaries in France and Germany. Its sells its products in over 60 countries.
Cross invests in mid-sized companies within the engineering, machinery and industrial product markets across Switzerland, Germany and Austria. To date, the firm has invested in around 30 companies.