Wingate Partners, a Dallas-based investment firm, announced that its portfolio company, MPI Products LLC, has acquired the operating assets and liabilities of Partech Corporation. Steve Crain, CEO of MPI, will continue to lead the organization with the former Partech business continuing operations as one of MPI’s four North American manufacturing facilities.
MPI is North America’s leading manufacturer of high-precision, fineblanked metal components for the automotive and industrial markets. As part of its growth-strategy, MPI continues to seek acquisitions of fineblanking companies across North America and in Asia. Fineblanking is a high-precision stamping process for cutting, shaping, and machining highly-engineered metal components that uses special, triple-action presses to produce parts with uniform flatness, unparalleled dimension accuracy, and near-net finish. The process is ideal for manufacturing geometrically-complex components.
Based in Minneapolis, MN, Partech has been manufacturing fineblanked precision parts since 1972 for customers across a wide range of industries including medical, electronic, and hydraulic manufacturers.
Steve Crain, MPI CEO, stated, “We are excited about the opportunity presented by the acquisition of Partech and the growth opportunities it creates for our customers and our employees. This combination furthers our mission to deliver value to our customers through technical expertise and superior processes. I am pleased to welcome the former Partech employees onto the MPI team.”
Headquartered in Rochester Hills, Michigan, MPI is North America’s leading manufacturer of high-precision, finelbanked metal components for powertrain systems, hydraulic systems, and other safety-critical automotive and industrial applications. The Company’s customers include automotive OEMs, and industrial OEMs, and their Tier I suppliers. The Company employs over 700 team members at four North American manufacturing facilities.
Wingate has a 28 year track record of purchasing controlling equity interests in companies with opportunity for substantial value creation from both improved operating performance and strategic changes. Wingate’s professionals bring substantial senior-level operating and strategic experience in addition to extensive careers in acquiring companies. www.wingatepartners.com