M&A Deal Summary

Center Rock Capital Partners Acquires Wolverine Advanced Materials

On July 1, 2024, private equity firm Center Rock Capital Partners acquired automotive company Wolverine Advanced Materials from ITT

Acquisition Highlights
  • This is Center Rock Capital Partners’ 1st transaction in the Automotive sector.
  • This is Center Rock Capital Partners’ 12th transaction in the United States.
  • This is Center Rock Capital Partners’ 1st transaction in Michigan.

M&A Deal Summary

Date 2024-07-01
Target Wolverine Advanced Materials
Sector Automotive
Buyer(s) Center Rock Capital Partners
Sellers(s) ITT
Deal Type Divestiture

Target

Wolverine Advanced Materials

Dearborn, Michigan, United States
Wolverine Advanced Materials is a manufacturer of highly engineered critical automotive components and customized technology solutions for the energy, transportation and industrial markets. Wolverine Advanced Materials was founded in 1934 and is based in Dearborn, Michigan.

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Buyer(S) 1

DESCRIPTION

Center Rock Partners is a private investment group focused on investing in middle-market industrial companies headquartered in North America that serve domestic and global markets. The Firm generally pursues companies with $50 to $500 million in revenue and up to $50 million of EBITDA. Specific areas of interest include Industrial manufacturing, industrial distribution and industrial services. Center Rock Capital Partners was formed in 2017 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 12 of 13
Sector: Automotive M&A 1 of 2
Type: Divestiture M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 12 of 13
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-02 Signature Systems Group

Flower Mound, Texas, United States

Signature Systems Group is a manufacturer of composite mats for worksite safety and ground protection. Signature Systems Group’s products are utilized in the construction, power transmission, infrastructure, energy, and special events industries. Signature Systems Group was formed in 1998 and is based in Flower Mound, Texas.

Sell $350M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-26 Diamond C Trailers

Mount Pleasant, Texas, United States

Diamond C Trailers is a manufacturer of premium open-air trailers, including gooseneck, dump, tilt, equipment trailers, and car haulers. Diamond C Trailers was founded in 1985 and is based in Mount Pleasant, Texas.

Buy -

Seller(S) 1

SELLER

ITT

Stamford, Connecticut, United States

Category Company
Founded 1920
Sector Machinery
Employees10,600
Revenue 3.6B USD (2024)
DESCRIPTION

ITT manufactures engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace, and transportation. ITT was founded in 1920 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 9 of 9
Sector: Automotive M&A 2 of 2
Type: Divestiture M&A Deals 5 of 5
State: Michigan M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Svanehoj

Svenstrup, Denmark

Svanehoj is a supplier of pumps and related aftermarket services with positions in cryogenic applications for the marine sector. The company's product portfolio primarily consists of deep well gas cargo pumps, fuel and energy pumps, and tank control systems. These products manage critical liquids for the energy transition, including ammonia, liquefied petroleum gas (LPG), liquefied natural gas (LNG), methanol, hydrogen, and CO2. Svanehoj is based in Svenstrup, Denmark.

Buy $395M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-01 kSARIA

Methuen, Massachusetts, United States

kSARIA brings extensive process technology and engineering expertise to the high-reliability connectivity industry, offering interconnect products and services with superior performance, quality and value. The Company’s product offering includes high-reliability optical fiber, expanded beam fiber optic, copper, and RF cable assemblies and harnesses. Additionally, the Company offers custom fiber optic flex circuits for avionic and backplane applications and it also provides complementary services such as cable assembly design, qualification testing, installation, training, and logistics management. kSARIA was formed in 2000 and is based in Methuen, Massachusetts.

Buy $475M