MW Industries, a portfolio company of Genstar Capital, has acquired Futuristics Components, a manufacturer of springs and specialty fasteners.
Futuristics manufactures fasteners, washers, timing devices, switches, and fittings. The company has specific expertise in miniature machined products requiring precision and extremely tight tolerances. The company’s products are used in the microwave, electronics, defense and aerospace sectors. Futuristics was founded in 1988 and is headquartered in Waterbury, CT (www.futuristicscomponents.com). The operations of Futuristics will be integrated into MW’s RAF Electronic Hardware Division, located in nearby Seymour, CT.
“Futuristics has built a solid reputation over the past 25 years as a niche manufacturer of precision machined components serving a number of key industries. The company’s products and work force are highly complementary to our existing facilities, and as part of the MW family of companies, we believe that Futuristics is better positioned to penetrate new markets, including the medical, electronics, communications, aerospace and avionics sectors,” said Bill Marcum, CEO of MW Industries.
MW Industries is a provider of springs, specialty fasteners and other components to more than 23,000 customers in over 35 countries. Its 40,000 plus 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, aerospace, electronics, agriculture & construction, automotive replacement, energy, and military. MW Industries is headquartered near Chicago in Rosemont, IL (www.mw-ind.com).
Genstar Capital invests from $50 million to $400 million in middle-market companies that have enterprise values from $50 million to $1 billion and EBITDAs greater than $15 million. Sectors of interest include life sciences, healthcare services, software & software services, financial services, and industrial technology. The firm was founded in 1988 and is based in San Francisco (www.gencap.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 2-20-14
