The parent company of Albert Lea-headquartered Edwards Manufacturing Co. has reached an agreement to be acquired by Gamut Capital Management, a New York-based private equity firm.

Under the agreement announced on Wednesday, the transition for the acquisition of Tennessee-based JPW Industries Inc. — a portfolio company of Tenex Capital Management —  will be finalized by the end of this year, said JPW Industries CEO Robert Romano.

The acquisition could spark job growth in Albert Lea, said Jordan Loehr, Edwards Manufacturing field sales and technical support manager.

Edwards Manufacturing is working on bringing in new equipment by the end of the year, which will allow for job opportunities at the company that employs about three dozen people in Albert Lea, Loehr said.

JPW Industry’s name, management and operations are expected to remain in place. Romano said all operations — including warehouse, parts support, customer service and technical service — will remain in Albert Lea and La Vergne, Tennessee.

Edwards Manufacturing was founded in 1875 by Charles Douglas Edwards. The company manufactures hydraulic tools, ironworker tooling and other items. JPW Industries acquired the organization last summer.

Gamut Capital Management manages $1 billion in committed capital for investment, according to a press release announcing the decision.

“It focuses on making investments in middle-market companies, enabling them to operate as stand-alone, independent businesses,” the press release states.

The firm — founded in 2015 by Stan Parker and Jordan Zaken — has more than 35 years of combined private-equity investing experience, and the firm’s senior deal professionals have executed investments in more than 30 companies in North America and Europe, the press release states.

Romano said the founders of Gamut “have a great track record, as well as vast experience with industrial companies like JPW. Most important, they have the willingness and capability to provide the resources to help us achieve our ambitious goals.”

Headquartered in La Vergne, JPW Industries manufactures and markets machinery and equipment under JET, Powermatic, Wilton, Edwards and Promac brands. The company has operations in six countries and sells through a number of distributors in markets worldwide.