M&A Deal Summary

Turnspire Capital Partners Acquires Stemco

On November 23, 2020, private equity firm Turnspire Capital Partners acquired automotive company Stemco from EnPro for 40M USD

Acquisition Highlights
  • This is Turnspire Capital Partners’ 3rd transaction in the Automotive sector.
  • This is Turnspire Capital Partners’ largest (disclosed) transaction.
  • This is Turnspire Capital Partners’ 7th transaction in the United States.
  • This is Turnspire Capital Partners’ 2nd transaction in Texas.

M&A Deal Summary
Date 2020-11-23
Target Stemco
Sector Automotive
Buyer(s) Turnspire Capital Partners
Sellers(s) EnPro
Deal Type Divestiture
Deal Value 40M USD

Target

Stemco

Longview, Texas, United States
Stemco is a manufacturer of critical wheel-end components for the commercial vehicle market. Through strategic global alliances, beneficial acquisitions, and strong partnerships, Stemco provides the worldwide commercial vehicle market with dependable, high-quality wheel-end components, braking products, suspension components, and intelligent transportation systems. Stemco Products was formed in 1951 and is based in Longview, Texas.

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Buyer(S) 1

Buyer

Turnspire Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Turnspire Capital Partners is a private investment firm focused on acquiring North American companies that have reached 'strategic, operational, or financial inflection points' with their business and could benefit from a hands-on investor. Turnspire will consider a variety of transaction situations, including special situations, corporate carve-outs, and family transitions. Sectors of interest include aerospace/defense, automotive, machinery, chemicals, consumer, building materials, food/beverages, logistics, metals, packaging, and plastics. Prospective companies generally have revenues of $50 to $400 million. Turnspire Capital Partners was formed in 2013 and is based in New York City.

DEAL STATS #
Overall 7 of 14
Sector (Automotive) 3 of 3
Type (Divestiture) 4 of 8
State (Texas) 2 of 3
Country (United States) 7 of 13
Year (2020) 3 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 Infinity Engineered Products

Fairlawn, Ohio, United States

Infinity Engineered Products is a provider of premium air springs for trucks, trailers, buses, and specialty vehicles.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Crane Carrier

New Philadelphia, Ohio, United States

Crane Carrier is a provider in the vocational truck industry, providing custom, severe-service chassis, and purpose-built vehicles for the refuse and recycling, infrastructure maintenance, ground support, agriculture, and oil and gas markets under the Crane Carrier Company and Crane Carrier Company Engineered Chassis brands. Crane Carrier was founded in 1953 and is based in New Philadelphia, Ohio.

Sell -

Seller(S) 1

SELLER

EnPro

Charlotte, North Carolina, United States
Category Company
Founded 2002
Sector Machinery
Employees3,500
Revenue 1.1B USD (2023)
DESCRIPTION

EnPro is a provider of sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products. EnPro was founded in 2002 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 5 of 9
Sector (Automotive) 2 of 2
Type (Divestiture) 5 of 9
State (Texas) 1 of 3
Country (United States) 5 of 8
Year (2020) 2 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 Alluxa

Santa Rosa, California, United States

Alluxa, Inc. provides specialized optical filters and thin-film coatings for the most challenging applications in the industrial technology, life sciences, and semiconductor markets. Alluxa was founded in 2007 and is based in Santa Rosa, California.

Buy $255M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-07 Altamira Material Solutions

Houston, Texas, United States

Altamira Material Solutions specializes in the custom production of PTFE molding, paste extrusion, plastics machining, and fabrication. Altamira Material Solutions is based in Houston, Texas.

Sell -
Mergr

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