December 17, 2012
LEXINGTON, MASS. (Dec. 17, 2:30 p.m. ET) — Investment firm Watermill Group has purchased Tenere Inc., a Dresser, Wis.-based company that does injection molding, mold making, metal stamping and machining.
Terms were not disclosed. Lexington-based Watermill bought the business from Columbus, Ohio-based private equity firm Stonehenge Partners Inc.
Tenere has 16 injection presses, ranging from 20-1,000 tons of clamping force, at its plant in Lakewood, Colo. The company also does a variety of secondary services including decorating and welding.
On the metals side, Tenere does metal stamping, machining and die and mold making. Customers include OEMs in aerospace, agricultural, data management, information technology, medical and industrial markets.
Watermill said Tenere is adding manufacturing capacity and expanding production at its newest facility in St. Croix Falls, Wis., and it expects to hire up to 100 employees within the next year.
“We’re approaching a critical phase in the growth of our company, and Watermill is the right partner to help us expand and scale to the needs of our customers,” said Jon Fisk, Tenere’s chief operations officer, in a Dec. 17 news release.