30 Aug 2006
Milwaukee, Wisconsin -- Fluid power components supplier Oilgear Co. has announced a $31.1 million (€24.3 million) proposed takeover by private equity firm Mason Wells.
The deal for Oilgear's two million shares is expected to be tied up by the end of the year after being unanimously approved by the company's board.
''The challenges of being a public company of our size have made it increasingly difficult for us to achieve our growth potential in today's very competitive global fluid power marketplace,'' Oilgear president and chief executive David Zuege said.
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