American Securities Sells Two to Rosebank in $3.25 Billion Transaction

American Securities has agreed to sell two of its portfolio companies, CPM Holdings and MW Components, to Rosebank Industries in a transaction valued at $3.25 billion, including $3.05 billion in cash and up to $200 million in earnout payments tied to 2026 performance.

The non-earnout valuation for the two companies is allocated as $2.1 billion for CPM and $950 million for MW Components. In 2025, CPM had revenues of $713 million and adjusted EBITDA of $175 million, while MW Components had revenues of $500 million and adjusted EBITDA of $95 million. Based on these purchase price allocations and financial performance, the EBITDA valuation multiples are 12x for CPM and 10x for MW Components. On a blended basis, the EBITDA valuation multiple for both companies is 11.3x.

CPM Holdings manufactures industrial processing equipment and automation systems used by producers of feed, food ingredients, fuels, and other materials. The company’s products, sold under a portfolio of brands include pellet mills that compress animal feed into dense pellets, oilseed processing systems that extract vegetable oils from crops such as soybeans, and automated batching and weighing systems used to control ingredient flow in large processing plants.

Customers of CPM include feed producers, oilseed processors, renewable fuel manufacturers, and food processors that use these machines to convert agricultural commodities into finished products at industrial scale.

CPM traces its roots to 1883 as the California Pellet Mill Company and today, led by CEO Dave Webster, employs roughly 1,700 workers across 35 facilities globally and maintains a commercial presence in more than 100 countries. CPM is headquartered just north of Minneapolis in Blaine, Minnesota.

“American Securities has been an outstanding partner,” said Mr. Webster. “Their deep industrial expertise and active operational engagement enabled us to elevate our customer offering, broaden our capabilities, and further strengthen our organization. We are excited to carry that progress forward as we embark on this new chapter with Rosebank.”

American Securities invested in CPM in November 2018, and during its ownership term CPM completed eight add-on acquisitions. The five largest were Dorssers, an Idaho-based manufacturer of pellet-mill dies and roller shells (October 2022); Jacobs Corporation, an Iowa-based maker of hammermill hammers, pellet-mill dies and roller shells (December 2024); Carlson Industries, an Iowa-based supplier of grinding equipment and process systems used in oilseed and grain processing (March 2023); Idah, a Taiwan-based manufacturer of extrusion equipment used in food and aquafeed production (May 2023); and Graf Equipment, a Switzerland-based producer of pelletizing systems and die-manufacturing equipment used in feed and biomass processing (May 2024).

CPM also completed several tuck-in acquisitions tied to pelletizing, extrusion, and process-equipment components that complemented its feed, oilseed, and renewable energy equipment lines.

“We are incredibly proud of the growth the CPM management team achieved during our partnership,” said Mike Sand, a partner at American Securities. “CPM enhanced its capabilities, developed groundbreaking technology, and expanded into new product categories, geographies, and end markets, all of which position the company for continued growth.”

MW Industries manufactures engineered metal parts used inside industrial machinery, aerospace assemblies, and electronic equipment. The company’s products include springs, specialty fasteners, and precision-machined components, along with related parts such as bellows and wire forms that absorb vibration, control mechanical motion, or secure assemblies in larger machines.

The company’s components are typically manufactured to customer specifications for original equipment manufacturers, distributors, and aftermarket maintenance providers operating in the aerospace, electronics, medical devices, energy equipment, and industrial machinery sectors.

MW Industries, led by CEO Thomas Amato, was founded in 1976 and is headquartered in Charlotte, North Carolina, with 20 manufacturing facilities across the United States.

“American Securities has played an instrumental role in MW Components’ evolution,” said Mr. Amato. “Over the years, American Securities has brought thoughtful guidance and operational rigor to support the company’s key growth and strategic repositioning initiatives. Their partnership has positioned MW Components well for continued success in the years ahead.”

American Securities acquired MW Components in September 2017. During its ownership term, MW completed nine add-on acquisitions that expanded the company’s specialty fastener and precision component capabilities across North America and Europe. The five largest were Elgin Fastener Group, an Ohio-based manufacturer and distributor of specialty fasteners and cold-formed components (November 2019); Ideal Fasteners, an Illinois-based producer of custom cold-headed fasteners used in automotive and industrial applications (March 2020); Hi-Tech Fasteners, an Illinois-based manufacturer of precision fasteners and machined components (July 2021); Champion Aerospace Fasteners, a South Carolina-based supplier of aerospace-grade specialty fasteners (May 2022); and Components International, a Rhode Island-based distributor of specialty fasteners and electronic hardware used in aerospace and defense applications (April 2023).

“It has been a true privilege to partner with these exceptional management teams,” said Michael Fisch, founder and CEO of American Securities. “With Dave Webster’s leadership at CPM and Tom Amato’s leadership at MW Components, both businesses have built durable platforms for sustained success. We are confident that CPM and MW Components are well positioned to build on their momentum and pursue their next phase of growth with Rosebank.”

American Securities invests in businesses with $200 million to $2 billion of revenue and $50 million to $250 million of EBITDA. Sectors of interest include industrial manufacturing, specialty chemicals, aerospace and defense, energy, business services, healthcare, media, restaurants, and consumer products. The firm has more than $26 billion of capital under management and has offices in New York City and Shanghai.

Rosebank Industries (LSE: ROSE) is a London-based investment company founded in 2023 by former executives of turnaround investor Melrose Industries, including Simon Peckham, Christopher Miller and Geoff Martin. The firm targets underperforming industrial and engineering businesses—particularly in aerospace, manufacturing, and industrial technology—with the aim of improving operations and profitability before eventually exiting the investment.

Baird, Evercore, and Goldman Sachs are the financial advisors to CPM, MW Components, and American Securities.

The sales of CPM and MW Components are expected to close by the end of the second quarter of 2026.