Center Rock Capital Partners has acquired Wolverine Advanced Materials from ITT
Wolverine Advanced Materials
Headquartered in Dearborn, Michigan, Wolverine Advanced Materials (WAM) is an industry leading advanced materials specialist supplying critical original equipment components for engineering applications to the automotive brake and sealing segments. WAM’s comprehensive product portfolio includes original equipment manufacturer (OEM) brake shims, sealing and gasket, abutment clips and aftermarket brake shims, which are manufactured and distributed across North America, Europe and APAC. With more than 150 blue-chip customers and over 2,500 product stock keeping units, WAM boasts a well-diversified product suite derived from complex manufacturing processes and robust in-house research and development capabilities.
The Deal
Center Rock Capital Partners, LP retained Lincoln International as the exclusive investment banking representative to arrange committed debt capital to support the acquisition of WAM. The sponsor was open to evaluating multiple capital structures to ensure the optimal financing solution in a streamlined process with support from long-term financing partners. Lincoln successfully facilitated the acquisition financing and ensured incremental liquidity with an asset-backed revolver. Center Rock’s deal team has significant experience in the automotive sector and aims to capture upside growth through increased focus on customer needs and aftermarket opportunities.
Our Perspective
Brendan Murphy, Lincoln International Managing Director who led the transaction, commented, “Lincoln was thrilled to advise Center Rock on the acquisition financing of WAM. Our role was to facilitate a streamlined financing within the confines of an accelerated mergers and acquisitions process, while navigating the complexities of a public carve-out and capturing additional asset-based lending availability through the leverage of an international borrowing base. Our team is excited to have found the right, long-term financing partners for the company.”
Lincoln ran an efficient financing process on a tight timeline, ultimately securing an optimal financing outcome that provides WAM with operational flexibility that positions the company for continued success. The team demonstrated their capital markets expertise and ability to navigate a complex process as a trusted advisor.
Meet our Senior Team
View More Transactions in Capital Advisory
Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.