Chicago and New York – October 2, 2017 – MW Industries (“MWI” or the “Company”), a leading provider of highly engineered springs, specialty fasteners, machined parts, and other precision components, and American Securities LLC, a leading private equity firm, announced today that MWI was acquired by affiliates of American Securities in partnership with MWI management on September 29, 2017.
Headquartered in Rosemont, Illinois, MWI serves more than 45,000 customers in more than 35 countries. Its more than 100,000 products are sold through a combination of direct sales, catalogs, and distributors to original equipment manufacturers and aftermarket customers in aerospace, medical, electronics, energy, agriculture, construction, and other sectors.
The Company has grown significantly both organically and by acquisition over the past six years. During this period, MWI has acquired twelve spring, stamping and fastener manufacturing companies across the United States. Recent acquisitions have expanded the Company’s product suite to include advanced precision metal products such as couplings, machined springs, and bellows, bringing more value-added solutions to customers in the medical, aerospace, and automotive aftermarket industries.
“MWI has grown both our existing brands and newly-acquired brands through providing custom-engineered solutions to solve customer problems,” explained John R. Bagnuolo, Chief Executive Officer of MWI. “Our strong technical expertise, combined with best-in-class service, speed to market and the broadest market basket of products and services in the industry, is valued by customers in a broad range of end markets. We look forward to leveraging American Securities’ significant experience in the industrial sector to help us continue to deliver industry-leading results.”
“We are pleased to partner with John and the rest of the MWI management team to continue to capture attractive growth opportunities,” commented Will Manuel, a Managing Director of American Securities. “The Company’s highly engineered products, valuable customer relationships, and experienced management team make MWI a strong fit for our investment strategy.”
Latham & Watkins LLP served as legal counsel to MWI, and Weil, Gotshal & Manges LLP served as legal counsel to American Securities with respect to the transaction. Baird acted as financial advisor to the Company with respect to the transaction.
About MW Industries
MW Industries, Inc., headquartered in Rosemont, Illinois, is a leading provider of highly engineered springs, specialty fasteners, machined parts and other precision components to more than 45,000 customers in 35-plus countries. Its more than 100,000 products are sold through a combination of direct sales, catalogs and distributors to original equipment manufacturers and aftermarket customers in aerospace, medical, electronics, energy, agriculture/construction and other sectors.
About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $300 million of EBITDA. American Securities and its affiliates have approximately $15 billion under management.