Genstar Capital Announces Acquisition of MW Industries, Inc.

SAN FRANCISCO, June 15, 2011 /PRNewswire/ -- Genstar Capital, LLC, a middle market private equity firm that focuses on investments in selected segments of the industrial technology, life sciences, healthcare, financial services and software industries, today announced the acquisition of  MW Industries, Inc., a leading U.S. manufacturer of highly engineered specialty springs and fasteners.

MW Industries, Inc., headquartered in Logansport, Indiana is a leading provider of highly engineered springs, specialty fasteners and other precision components to more than 23,000 customers. Its 40,000+ products are sold through a combination of direct sales, catalogs and distributors to original equipment manufacturers and aftermarket customers in a number of industries, including medical, heavy truck, electronics, agriculture and construction, military and aerospace, energy and automotive.

Rob Rutledge, who heads Genstar's Industrial Technology vertical, said, "We are excited to be partnering with management to leverage MW's leading quality, brands, customer service and distribution to drive growth both organically and through acquisitions. The combination of our capital resources and operating expertise and management's strong capabilities and experience will position MW to accelerate its growth and profitability."

Genstar's executive network of operating professionals in the industrials sector will play a key role in achieving further growth for MW. Michael L. Hurt, former CEO of Genstar portfolio company Altra Holdings, Inc., is a member of the Genstar Strategic Advisory Board and will serve on the Board of Directors. Genstar has also named Operating Partner Edmund M. Carpenter, former CEO of Barnes Group, to serve on the Board of Directors.  

Dan Sebastian, President and CEO of MW, said, "MW has built a reputation for reliably delivering highly engineered components to a strong and stable customer base.  With Genstar's capital and operating expertise, MW can continue to leverage its core leadership positions and manufacturing capabilities to attract new customers in existing markets as well as targeting new end markets."

About Genstar Capital, LLC

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than $3 billion of committed capital under management and targets investments focused on selected sectors within the life science, healthcare services, software and software services, financial services, and industrial technology industries.

Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334

SOURCE Genstar Capital, LLC