Water Gremlin Announces Advancement of Sale Process With Receipt of Multiple Offers to Acquire U.S. and European Divisions
WHITE BEAR TOWNSHIP, Minn., Oct. 27, 2023 /PRNewswire/ -- Water Gremlin (the "Company"), a market-leading manufacturer of essential components for batteries used to power the commercial, consumer, military, and government transportation and infrastructure sectors, today announced that it is evaluating multiple compelling offers from interested parties to acquire substantially all of the assets of its U.S. and European divisions.
- Water Gremlin Aquila Company S.p.A., the Company's European division based in Brescia, Italy, is not part of the proceedings.
- Since that time, Water Gremlin has brought its facilities, operations, and health and safety policies and procedures to meet all regulatory standards, including replacing TCE with its innovative, solvent-free Gremlin Green™ coating process.
- "Since its founding nearly 75 years ago as a manufacturer of fishing sinkers, Water Gremlin has evolved into the leader in battery terminals," said Bradley J. Hartsell, President of Water Gremlin.
- Dorsey & Whitney LLP is serving as legal counsel to Water Gremlin, Intrepid Investment Bankers is serving as investment banker, and Riveron Consulting, LLC is serving as financial advisor.