DEARBORN, May 30, 2014 – Wolverine Advanced Materials (Wolverine) acquired the Global OE and Aftermarket Brake business of Material Sciences Corporation (MSC), a division of New Star Metals. The deal closed today. Terms of the transaction were not disclosed.
The acquisition of MSC’s Brake business further expands Wolverine’s global market presence while adding to its broad portfolio of products. The combination of Wolverine and MSC allows for workflow efficiencies, as both Wolverine and MSC have extensive experience and knowledge of NVH Solutions, including years of research, technology, and product development.
“We are proud of our diverse portfolio of products – one that has grown with our acquisition of the Global OE and Aftermarket Brake business of MSC,” said Grant Beard, Chairman, CEO, and President of Wolverine. “The deal expands our capabilities in the Brake segment. This, coupled with our strong position in the Sealing industry, will strengthen Wolverine as a company. We look forward to continuously working with our long-term partners, and providing them with an extended portfolio of high-quality, high-performance products.”
About Wolverine Advanced Materials
Wolverine Advanced Materials is a leading developer and manufacturer of high-performance materials. Our core competency is in performance-critical, specialty elastomer-coated metals that offer damping and seal-ability solutions in the Automotive Brake, NVH, and Sealing industries. Extensive industry knowledge and innovative materials have made Wolverine a desired and trusted global supplier for over 80 years. Wolverine has offices in Virginia, Florida, Michigan, Germany, Japan, China, Brazil, and India. Principally owned by Wynnchurch Capital Partners, Wolverine employs approximately 500 people worldwide, with global headquarters in Dearborn, Michigan. For more information, please visit: http://www.wamglobal.com.
About Wynnchurch Capital
Wynnchurch Capital, headquartered in the Chicago suburb of Rosemont, Illinois with offices in Detroit, Toronto, and an affiliate office in Montreal, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch focuses on investments in niche manufacturing, business and industrial services, energy and power services, logistics, transportation and value-added distribution. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion, specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. For more information, please visit: www.wynnchurch.com.
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