Weigh-Tronix, LLC reached a financial restructuring agreement. According to the company the agreement will result in a reduction of debt and aligns the company in a strong position for growth.
Terms of the agreement include a $25 million additional investment by its existing majority owner, Berkshire Partners.
Gerald Bowe, CEO of Avery Weigh-Tronix, said, “With this new capital structure, our diverse line of superior retail and industrial products and services as well as internationally recognized brand names should allow us to operate profitably in today’s challenging environment and to capitalize on growth opportunities.”
Avery Weigh-Tronix is a manufacturer, marketer and servicer of industrial and retail weighing systems.