One of Hannibal’s leading manufacturer’s has been sold.

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Officials with Watlow announced Friday that it has signed a definitive agreement to sell to Tinicum LP and expects to close as quickly as regulatory approvals will allow.

The financial terms of the deal were not disclosed. What is known is that the Desloge family, which has owned Watlow for nearly 100 years, will retain minority ownership and the company headquarters will stay in St. Louis.

Watlow describes itself as an industry leader in the design and manufacture of complete thermal systems.

Tinicum’s corporate holdings include companies that deal in manufacturing, infrastructure, distribution and industrial technology.

The Watlow facility in Hannibal employs about 300 people.

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