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Genstar Capital acquires MW Industries

Middle market private equity firm Genstar Capital has acquired MW Industries, Inc, a leading US manufacturer of highly engineered specialty springs and fasteners.

MW Industries, Inc, headquartered in Logansport, Indiana is a leading provider of highly engineered springs, 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.

Rob Rutledge (pictured), who heads Genstar’s Industrial Technology vertical, says: "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.  

Dan Sebastian, President and CEO of MW, says: "MW has built a reputation for reliably delivering highly engineered components to a strong and stable customer base.  With Genstar’s capital and operating 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."

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