Simpson Thacher Represents Melrose Industries PLC in Announced Sale of Truth Hardware
05.01.13
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The Firm is representing Melrose Industries PLC ("Melrose") in connection with its announced sale of Truth Hardware ("Truth") to Tyman PLC. The total consideration for this transaction is US$200 million (£129 million), and will be payable in cash upon completion. Melrose intends to use the proceeds to pay down existing borrowings. The transaction is expected to close in June 2013.
Truth is a leading designer and manufacturer of quality operating hardware in North America for residential and light commercial windows and doors.
The Simpson Thacher team includes Adam Signy and Jamie Rowles (M&A); and David Vann, Tara Kelly and Ken Ehrhard (Antitrust).