June 15, 2011

LOGANSPORT, IN – Dan Sebastian, President & CEO of MW Industries, Inc. headquartered in Logansport, Indiana, announced today that MW Industries, Inc. has been acquired by Genstar Capital of San Francisco. Terms of the transaction were not disclosed.

Genstar Capital, LLC, a middle market private equity firm, focuses on investments in selected segments of the industrial technology, life sciences, healthcare, financial services and software industries.

MW Industries, Inc. is a leading provider of highly engineered spring, specialty fasteners, and other precision components to more than 23,000 customers. Its 40,000+ products are sold through a combination of direct sales, catalogs and distributors to original equipment manufacturers and aftermarket customers in a number of industries, including medical, heavy truck, electronics, agriculture and construction, military and aerospace, energy and automotive.

Dan Sebastian, said, “MW has built a reputation for reliably delivering highly engineered components to a strong and stable customer base. With Genstar’s capital and operational expertise, MW can continue to leverage its core leadership positions and manufacturing capabilities to attract new customers in existing markets as well as targeting new end markets.”

Jim Callaghan, MW’s CFO added, “The capital provided by Genstar will enable us to strengthen our company as we focus on growth opportunities.”

Rob Rutledge, who leads Genstar’s Industrial Technology vertical, said, “We are excited to be partnering with management to leverage MW’s leading quality, brands, customer service and distribution to drive growth both organically and through acquisitions. The combination of our capital resources and operating expertise and management’s strong capabilities and experience will position MW to accelerate its growth and profitability.”

Genstar’s executive network of operating professionals in the industrials sector will play a key role in achieving further growth for MW. Michael L. Hurt, former CEO of Genstar portfolio company Altra Holdings, Inc., is a member of the Genstar Strategic Advisory Board and will serve on the Board of Directors. Genstar has also named Operating Partner Edmund M. Carpenter, former CEO of Barnes Group, to serve on the Board of Directors.

Rick Wandoff, Partner at Brockway Moran & Partners (MWI’s former owners) added, “We were originally attracted to MW Industries given its great fit with our philosophy of investing in well managed companies with solid growth potential. During our ownership, MW Industries completed two strategic add-on acquisitions, strengthened its organization at all levels and captured additional market share, proving its ability to outperform its competition. We have greatly enjoyed our partnership with Dan Sebastian and MW Industries’ outstanding management team, as well as CITIC Capital, and we wish the Company continued success.”

About Genstar Capital, LLC Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the life science, healthcare services, software and software services, financial services, and industrial technology industries.