MPE Partners, together with its portfolio company Webster Industries, announced the acquisition of Renold. Renold is a global designer and manufacturer of high specification industrial chain and torque transmission products used in a wide variety of power transmission environments.
The business serves customers across more than 100 countries, supporting various sectors, including manufacturing, material handling, construction, transportation, food and beverage, energy, forestry, and agriculture. The acquisition brings together two established brands in industrial power transmission and is positioned to create a diversified global platform headquartered in the United States.
The combination of Webster and Renold expands product breadth, end-market exposure, and geographic reach, while providing new commercial opportunities. Both companies will continue to operate from their existing manufacturing facilities, with no changes to daily operations. The transaction advances Webster’s long-term vision of building a leading global company in automation, material handling, and power transmission.
To guide the combined platform through its next phase of growth, MPE appointed Simon Newman as Chief Executive Officer and Adrian Murphy as Chief Financial Officer. Newman previously served as CEO of MW Components and earlier led Form Technologies. Murphy most recently served as CFO of Form Technologies and brings over fifteen years of experience working alongside Newman.
Support: Ares Management and Fidelity Direct Lending provided financing to support the acquisition. Moelis & Company served as lead financial advisor to MPE, with J.P. Morgan Securities and Carleton McKenna also acting as advisors. Jones Day served as legal counsel.
KEY QUOTES:
“We are incredibly enthusiastic about combining the Webster and Renold businesses in this significant transaction. Both companies have storied histories providing critical technologies that power and move the global industrial manufacturing sector. Together, we’re positioned to broaden our reach across key markets and product categories, ensuring we deliver comprehensive and high-performance solutions for our customers. On behalf of Adrian and myself, we are thrilled about joining Webster and Renold at such an exciting inflection point with the significant opportunities that lie ahead in partnership with MPE as well as with the talented teams at Webster and Renold.”
Simon Newman, Chief Executive Officer
“This partnership strengthens each business and creates a strong global platform to advance strategic priorities and enhance the value we deliver to customers, employees, and other stakeholders. I’m proud of what the Renold organization has delivered and thank all our employees around the world for their deep commitment and contributions. Renold’s shared cultural values with Webster – excellence, continuous improvement, and resilience – will form the foundation for collaboration and long-term success as one company. We look forward to working alongside MPE to execute our strategic vision of building the global market leader known for engineering quality and innovation.”
Robert Purcell, Chief Executive Officer, Renold and Jim Haughey, Chief Financial Officer, Renold
“We are thrilled to partner with Renold, which is a highly complementary business to Webster. This combination unites two industry-leading brands to create a global, scaled platform with significantly enhanced capabilities and commercial reach. We welcome Simon and Adrian to the organization, who are dynamic executives that have transformed global companies while fostering principles of high performance and strategic execution, including mergers and acquisitions. We also look forward to working closely with Robert, Jim, and the entire Renold and Webster teams to accelerate our organic and inorganic growth objectives.”
Constantine Elefter, Partner at MPE and Chairman of the Board of Webster
