DEARBORN, Mich. – EP Management Corp. has signed a definitive purchase agreement to sell Wolverine Advanced Materials (Wolverine) to Wynnchurch Capital Ltd., a Chicago-based private equity firm with offices in Toronto and Detroit. The final sale is subject to normal closing conditions and government approvals.
Based in Dearborn, Mich., Wolverine develops, produces and sells performance-critical, specialty materials used in gaskets for automotive and industrial applications; automotive brake noise insulators, NVH (noise, vibration & harshness) damping solutions for automotive and NSV (noise, shock & vibration) for consumer electronics applications. Wolverine has manufacturing operations in Blacksburg, Va., Leesburg, Fla., Germany, South Korea and China, as well as sales offices in Brazil and India, and a technical center in Japan. The company employs nearly 400 people worldwide.
“Our investment model is to partner with companies that have strong, dynamic management teams and provide strategic and financial resources to realize the management team’s global vision,” said Terry Theodore, partner of Wynnchurch’s Detroit office. “Wolverine has a world-class, customer-focused management team led by Scott Koepke, a deep global footprint and innovative product and process technology. We’re excited to participate in and contribute to Wolverine’s growth while continuing to aggressively serve its global customer base.”
“I am pleased to align Wolverine with a partner that will support its growth opportunities in a range of manufacturing sectors globally,” said David Treadwell, president and CEO of EP Management Corp. “The employees of Wolverine under the leadership of Scott Koepke have done a great job of turning the company into a leading developer and trusted supplier of high-performance materials. I would like to recognize and thank them for their hard work.”
After the sale of Wolverine, EP Management Corp. will consist of EP Minerals, a global supplier of diatomaceous earth products.
