As part of plans to restructure and concentrate on assets in Chile, multi-national welding and cutting products manufacturer Thermadyne Holdings Corporation, has sold its two South African based welding equipment and consumables businesses.
The sale of the Maxwell & Braze Pty, Ltd and Unique Welding Alloys businesses is indicative of Thermadyne's ongoing efforts to turn their attentions elsewhere and explore strategic alternatives for selected non-core assets, including South American business interests.
Goldsmith Agio Helms, in cooperation with Rand Merchant Bank, acted as exclusive financial advisor to Thermadyne on the sale of the business and have been retained to assist in evaluating alternatives for these non-core assets.
Thermadyne's executive vice president of global corporate development, Terry Downes, expressed his satisfaction with the transaction, $quot;The sale of these subsidiaries was an excellent result for Thermadyne and will allow the Company to move forward and operate with even greater efficiency.$quot;
Ben Axelrod, vice president with Goldsmith Agio Helms said, $quot;This transaction reflects Thermadyne's continued strategic focus on deploying its resources against its core assets. We are very pleased to have played a role in helping Thermadyne achieve its short- and long-term objectives.$quot;