Wynnchurch Capital Sells Wolverine Advanced Materials

Wynnchurch Capital Sells Wolverine Advanced Materials

Headquartered in Dearborn, Michigan, Wolverine is one of the global leaders in developing and manufacturing proprietary products for automotive braking systems and highly-engineered sealing solutions for harsh operating environments across a range of industries.

Wolverine Advanced - LogoWynnchurch Capital, a middle-market private equity firm, announced the sale of Wolverine Advanced Materials to ITT Corp. for approximately $300 million. Wynnchurch generated a return of approximately 4.0 times multiple of invested capital on its investment in Wolverine.

Headquartered in Dearborn, Michigan, Wolverine is one of the global leaders in developing and manufacturing proprietary products for automotive braking systems and highly-engineered sealing solutions for harsh operating environments across a range of industries. Over the past 80 years, Wolverine has built a reputation for quality, innovation and thought leadership in material sciences, according to the company. Through customer-focused innovation, Wolverine developed the largest portfolio of specialty elastomer material constructions in its end markets.

Terry Theodore, partner at Wynnchurch, stated, “Wolverine represented an opportunity to reinvigorate a company with great DNA, differentiated products and leading market share. By recruiting fresh leadership and working with the management team to drive operational improvement, bolster the sales and go-to-market strategy, invest in engineering and product development and execute a strategic add-on acquisition, Wynnchurch and the management team were able to significantly grow Wolverine’s earnings and accelerate its topline growth.”

Brian Crumbaugh, managing director at Wynnchurch, added, “Wolverine is a great business and we are proud of the growth and accomplishments that the management team, in close collaboration with Wynnchurch, were able to achieve during our ownership period.”

Wynnchurch acquired Wolverine in December 2010 through a corporate carve-out from EP Management Corp.

UBS Investment Bank served as financial advisor and Foley & Lardner served as legal advisor to Wynnchurch.

You May Also Like

MPA Reports Strong Financial Results for Fiscal Q3 2024

MPA’s Q3 results showed increases in net sales, operating income and cash flow from operating activities.

Motorcar Parts of America, Inc. released its financial results for the fiscal 2024 third quarter and nine-month period ending December 31, 2023, showcasing increases in net sales, operating income and cash flow from operating activities.

During the fiscal third quarter, net sales surged by 13.2 percent to $171.9 million, accompanied by a substantial improvement in gross margin by 3.7 percentage points. Gross profit increased by 43.1 percent to $30 million, while operating income increased 170.1 percent to $9.5 million. The company generated approximately $53.6 million in cash from operating activities during the quarter, according to MPA's earnings report.

O’Reilly Reports Q4, Full-Year 2023 Financial Results

The company said it anticipates continued growth in 2024, with projections including 190 to 200 net new store openings.

financial results
Valvoline, Inc. Reports Q1 Growth

Valvoline saw an increase in system-wide stores to 1,890, including 895 company-operated stores and 995 franchised stores in Q1.

Valvoline Instant Oil Change building
Eaton Reports Record Q4 2023 Results

Fourth-quarter sales reached $6 billion, an 11% increase from the previous year, driven by organic growth and a slight boost from foreign exchange.

PACCAR Achieves Record Annual Revenues, Net Income

PACCAR Parts reported a record annual pre-tax income of $1.7 billion and revenues of $6.41 billion.

Financial-results

Other Posts

Continental Unveils Strategy for Enhanced Value Creation

Continental is focusing on business areas with high growth potential, including making its UX business organizationally independent.

Conti-HQ
AutoZone Q1 Domestic Same Store Sales Increase 1.2%

The company’s same-store sales showed a 25.1% jump internationally.

Advance Looks to Spin Off Worldpac, Canadian Business

Advance is taking steps to improve its cost structure and return the business to profitable growth, company executives said.

Advance auto parts store
GPC Reports Q3 Results, Updates Full-Year Outlook

Paul Donahue, chairman and CEO, said GPC’s Q3 was highlighted by double-digit earnings growth.