Oechsle International's management, along with Fleet Financial, bought out Dresdner Bank's 65% ownership of Oeschle. Terms were not disclosed.
Under the deal, Oeschle's management will increase its equity stake in the firm to 65% from 35%. The remaining 35% will be bought by Fleet. The deal is expected to close in early September. Stephen Langer, a partner and marketing director of Oechsle, said Fleet will be a passive investor in Oechsle.
