Fastener, spring and metal component manufacturer MW Components has been sold to a firm in the U.K. in a deal worth about $950 million, its former owner announced Thursday.
Rosebank Industries disclosed an agreement to acquire MW and another company — food process equipment provider CPM — from New York private equity firm American Securities LLC earlier this year. Charlotte-based MW provides engineered, mission-critical parts to a range of industrial end markets, including electronics, semiconductors, energy, aerospace and defense, medical and agriculture.
Rosebank said at the time that the companies fit its “Buy, Improve, Sell” model, and that it hoped to improve their operating margins by 6 to 7 percentage points through “restructuring, simplification and operational initiatives.”
American Securities officials noted that MW completed nine bolt-on acquisitions since its investment in the business in 2017. MW also overhauled its digital and e-commerce capabilities during that span, including the rollout of a proprietary rapid quoting software platform.
"We are proud of the growth MW Components achieved during our partnership," Michael Fisch, American Securities’ founder and CEO, said in a statement. "Working closely with Tom Amato and the broader management team, the company strengthened its leadership position, expanded into strategic end markets, and built differentiated operational and commercial capabilities that position the business for continued success in this next chapter with Rosebank."
