Exclusive financial advisor to Wetmore Tool & Engineering Company

KPMG Corporate Finance LLC acted as exclusive financial advisor to Wetmore Tool & Engineering ("Wetmore"), a portfolio company of Corridor Capital, in the sale to Dormer Pramet, a division of Sandvik Machining Solutions, a business area of Sandvik AB (SAND:SS).

About the engagement

Founded in 1950 and based in Chino, California, Wetmore is a leader in the production of specialty round cutting tools and temporary fasteners for use in aerospace manufacturing applications. Wetmore’s product offering is recognized for high quality, precision, balance, and serviceability and utilized by a customer base that includes the most recognized aerospace and defense manufacturers globally.

“It has been an honor to work with our management partners at Wetmore to build upon the company’s legacy as a long-standing and valued supplier to many of the aerospace industry’s best manufacturers. During our investment period, we’ve worked closely with the company to expand its production capacity, implement best in class financial and operating systems and deepen relationships with valued customers and distribution partners,” said Corridor Managing Director, Cameron Reilly.

The acquisition not only expands Dormer Pramet’s range of round tools but it also facilitates an improved position in key aerospace markets, enhancing Dormer Pramet’s “one-stop-shop” offering. “The acquisition is aligned with Sandvik Machining Solutions’ growth strategy. Wetmore Tool & Engineering will add competence in application areas that complements our existing offering in round tools”, says Klas Forsström, President of Sandvik Machining Solutions.

About Corridor Capital

Corridor Capital is a Los Angeles based, operationally-intensive, private equity firm focused on investing in lower middle market, specialty manufacturing, business services and value-added distribution companies.

About Sandvik AB

Sandvik AB, headquartered in Stockholm, Sweden, is a high-tech and global engineering Group conducting operations in three business areas: Sandvik Machining Solutions, Sandvik Mining and Rock Technology, and Sandvik Materials Technology.

Global coverage. Industry knowledge. Middle-Market focus

The global Corporate Finance practices of KPMG International’s network of independent member firms was ranked #1 as the top M&A middle-market adviser globally by Thomson Reuters SDC based on number of completed transactions, for 2018.

Corporate finance services, including Financing, Debt Advisory, and Valuation Services, are not performed by all KPMG member firms and are not offered by member firms in certain jurisdictions due to legal or regulatory constraints. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. The information contained in this communication does not constitute a recommendation, offer, or solicitation to buy, sell or hold any security of any issuer. Past performance does not guarantee future results.

© 2019 KPMG Corporate Finance LLC, a Delaware limited liability company. Member FINRA and SIPC. KPMG Corporate  Finance LLC is a subsidiary of KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.. The KPMG name and logo are registered trademarks or trademarks of KPMG International.

 
 



Chrisanne Corbett

Chrisanne Corbett

Managing Director, KPMG Corporate Finance LLC

+1 312-665-2779