Wingate Partners Acquires MPI Products Holdings LLC

ROCHESTER HILLS, Mich., Aug. 1, 2014 /PRNewswire/ — Wingate Partners V, LP has announced that they, in combination with company leadership, have acquired MPI Products Holdings LLC (“MPI”) from Monomoy Capital Partners. Terms of the transaction were not disclosed.

“We are grateful and honored to partner with Steve Crain, Mike Putz, the rest of the executive leadership team, and the outstanding employees of MPI. Our goal is very simple – to support an exceptional group of people in pursuing the extraordinary potential of MPI,” said Brad Brenneman, Partner of Wingate Partners.

“This transaction represents an exciting next step in MPI’s evolution as the premier fineblanked component supplier in North America,” said Steven Crain, President and Chief Executive Officer of MPI. “Wingate’s operational expertise and strategic guidance will provide MPI with the necessary resources and capital to expand and improve our operations both domestically and abroad. We look forward to the opportunities ahead.”

In connection with the transaction, Lazard Middle Market acted as financial advisor to MPI, Haynes and Boone, LLP acted as legal advisor to Wingate, and Baker & McKenzie acted as legal advisor to MPI.

About MPI:

MPI is North America’s leading manufacturer of high-precision, fineblanked metal components for powertrain systems, hydraulic systems and other safety-critical automotive and industrial applications. Fineblanking is a dual-pressure stamping process for cutting, shaping and machining of highly engineered metal components that produces parts with uniform flatness, unparalleled dimensional accuracy, and near-net finish. The process is ideal for manufacturing geometrically-complex powertrain and transmission components.

Headquartered in Rochester Hills, Michigan MPI is one of the world’s leading manufacturers of automatic transmission products, supplying automotive original equipment manufacturers (“OEMs”) with clutch plates, separator plates, and backing plates. The company’s automotive customers include several large car makers and a wide array of Tier I automotive suppliers. MPI also manufactures safety-critical and hydraulic components for heavy duty vehicles and general industrial customers. The Company employs over 700 team members at three North American manufacturing facilities and its corporate headquarters in Michigan.

About Wingate Partners:

Wingate Partners was founded in 1987 to purchase controlling equity interests in companies with the opportunity to create value through superior operational and strategic execution. Typically, Wingate’s investments fall into two primary categories: profitable companies in changing or out of favor industries and under-performing companies. In both cases, equity value is created by improving the operating performance of the business and by developing long-term strategies to exploit changing industry dynamics. Our professionals bring substantial senior-level operating and strategic experience in addition to extensive careers in acquiring companies.

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SOURCE Wingate Partners

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