World Dryer Corporation has been acquired by Zurn Industries, LLC, a subsidiary of Rexnord Corporation

World Dryer Corporation, a portfolio company of NewCastle Partners and Greyrock Capital Group, has been sold to Zurn Industries, LLC, a subsidiary of Rexnord Corporation (NYSE: RXN). Financial details have not been disclosed.

World Dryer, the leading global manufacturer of hand dryers, is the only company of its kind to offer a full portfolio of fast, state-of-the-art hand dryers designed to fit the individual needs of any facility. For more than 60 years, the company's products have set the industry standard by integrating leading technology. With more than 800 distributors worldwide and over 18-plus certifications representing more than 85 countries around the globe, World Dryer truly is the hand-dryer manufacturer of choice.

Headquartered in Milwaukee, Wisconsin, Rexnord, with a market value of over US$2.5 billion, is comprised of two strategic platforms, process and motion control and water management, with approximately 8,000 employees worldwide. The process and motion control platform designs, manufactures, markets and services specified, highly engineered mechanical components used within complex systems. The water management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Zurn, a business within Rexnord’s water management platform, is a recognized leader in commercial, municipal, healthcare and industrial markets. Zurn offers the largest breadth of engineered water solutions, including a wide spectrum of sustainable plumbing products, delivering total building solutions for new construction and retrofit applications that enhance building environments.

One of Oaklins' teams in the USA served as the exclusive financial advisor to the seller in this transaction.