Wachovia, Peppertree purchases TMW Systems

TMW Systems, Beachwood OH, announced that it has finalized a definitive agreement to be purchased by Wachovia Capital Partners and Peppertree Capital Management. Terms of the acquisition were not disclosed.

Tom Weisz, who founded TMW Systems will continue in his role as chairman.

The entire TMW management team will remain intact. In addition, Ken Thompson will assume the post of president and chief executive officer and Dave Mook will take on the added responsibilities of chief operating officer.