M&A Deal Summary

Mayville Engineering Co Acquires Center Manufacturing

On December 17, 2012, Mayville Engineering Co acquired automotive company Center Manufacturing from Industrial Opportunity Partners and Patriot Capital

Acquisition Highlights
  • This is Mayville Engineering Co’s 1st transaction in the Automotive sector.
  • This is Mayville Engineering Co’s 1st transaction in the United States.
  • This is Mayville Engineering Co’s 1st transaction in Michigan.

M&A Deal Summary
Date 2012-12-17
Target Center Manufacturing
Sector Automotive
Buyer(s) Mayville Engineering Co
Sellers(s) Industrial Opportunity Partners
Patriot Capital
Deal Type Add-on Acquisition

Target

Center Manufacturing

Byron Center, Michigan, United States
Center Manufacturing, Inc. is a manufacturer of complex welded tubular assemblies and metal fabrications primarily for motorcycle/ATV, commercial vehicle and automotive applications.

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Buyer(S) 1

Buyer

Mayville Engineering Co

Mayville, Wisconsin, United States
Category Company
Founded 1945
Sector Manufacturing
DESCRIPTION

MEC manufactures, coats and assembles a broad range of products, from simple to the very complex. Our expertise begins with a strong core competency in design for manufacturability. Working closely with OEMs, our engineers drive cost out at the most critical moment of a product's life, the initial design. The focus is designing high quality parts and components at the lowest total cost. MEC's team of process engineers then determine the most efficient and effective way to manufacture the products to maximize quality while at the same time reducing the total cost.

DEAL STATS #
Overall 1 of 3
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 1 of 3
State (Michigan) 1 of 1
Country (United States) 1 of 3
Year (2012) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-17 Defiance Metal Products

Defiance, Ohio, United States

Defiance Metal Products, Inc. is a full-service, precision manufacturer of low- to medium-volume, complex, engineered components and assemblies for the commercial vehicle market. Defiance serves original equipment manufacturers in the medium to heavy duty commercial truck, bus, military vehicle and commercial construction equipment markets.

Buy -

Seller(S) 2

SELLER

Industrial Opportunity Partners

Evanston, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Industrial Opportunity Partners is a private equity firm focused on acquiring and managing middle-market manufacturing and value-added distribution businesses. IOP looks to invest $15 to $100 million in companies with revenues between $50 and $500 million with an EBITDA of $5 to $50 million. Sectors of interest include building products, electronics, foundry, and casting products, precision machining, stamped and fabricated products, automotive components and steel/metal processing. IOP has a particular investment focus on enhancing the operations and optimizing the cost structures of businesses. Industrial Opportunity Partners was formed in 2005 and is based in Evanston, Illinois.

DEAL STATS #
Overall 4 of 22
Sector (Automotive) 1 of 6
Type (Add-on Acquisition) 3 of 14
State (Michigan) 1 of 2
Country (United States) 4 of 20
Year (2012) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-16 Gulf Coast Machine & Supply

Beaumont, Texas, United States

Gulf Coast Machine & Supply Co. is a manufacturer of large forgings for use in the oil and gas, petrochemical, wind energy, and general industrial markets. Gulf Coast Machine & Supply was founded in 1919 and is based in Beaumont, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-31 Betty Machine

Hendersonville, Tennessee, United States

Betty Machine is a manufacturer of close-tolerance parts primarily for automotive applications. Betty Machine is based in Hendersonville, Tennessee.

Buy -
SELLER

Patriot Capital

Baltimore, Maryland, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Size Large
Type Sector Agnostic
DESCRIPTION

Patriot Capital is a private investment firm that provides equity and junior capital to support acquisitions, growth capital financings, management buyouts, and recapitalizations of middle-market companies. The Firm looks to invest $5 to $25 million in businesses generating revenues of $10 to $200 million. Areas of interest include business and consumer services, consumer products, niche manufacturing and distribution, education, e-commerce, application software, transportation, and telecom services. Patriot focuses its investment activity with the Mid-Atlantic, Midwest, and Southern areas of the US. Patriot Capital is based in Baltimore, Maryland.

DEAL STATS #
Overall 11 of 50
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 8 of 29
State (Michigan) 1 of 3
Country (United States) 11 of 50
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-12 Airco

Punta Gorda, Florida, United States

Airco is a provider of a broad range of plant maintenance and repair services to Power Plants and Industrial manufacturers. Airco operates in three verticals, Industrial Services, Power Services, and Welding Services, each led by industry-experienced senior managers. Airco was founded in 1994 and is based in Punta Gorda, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-19 Custom Control Concepts

Kent, Washington, United States

Custom Control Concepts, Inc. is a designer and manufacturer of cabin management and in-flight entertainment systems for luxury, corporate, and VVIP aircraft.

Buy -
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