Maxon Corp. (Muncie, Ind.; announced that it would sell its 88-year-old Muncie-based business subject to a vote by its shareholders. The buyer is HKW Capital Partners II, a private equity fund headquartered in Indianapolis, managed by Hammond, Kennedy, Whitney & Co., which maintains Indianapolis, Chicago and New York City offices. HKW will acquire all company stock, other than management-held shares. Jobs, wages, benefits, local management and plant locations would be unaffected by the sale. (Source: The Star Press, Muncie, Ind.)