Wynnchurch Capital Invests in Detroit Tool Metal Products, Co.


CHICAGO--June 28, 2013: Wynnchurch Capital ("Wynnchurch"), a Chicago-based private equity firm with offices in Dallas, Detroit, and Toronto, and an affiliate office in Montreal, announced the first in a series of planned investments in the metal fabrication space with the acquisition of Detroit Tool Metal Products, Co. ("DTMP" or the "Company") in partnership with a management team led by Chief Executive Officer Terry Wogan. Wynnchurch is backing Wogan's team of industry experts to build one of the largest Tier 1 fabrication businesses in North America. John Hatherly, Founding Partner of Wynnchurch stated, "We are excited to partner with this experienced group of managers and support the rollout of their proven operating model. We are confident that together we can create a true leader in the metal fabrication space." Wogan's executive group includes Dani Goldsmith (Chief Operating & Financial Officer), Marty Kozarec (Vice President of Sales) and Don Miller (Vice President of Engineering). Long-time colleagues with backgrounds in the automotive industry, the team has developed a Lean-based operations model that delivers automotive quality and delivery to the standard tool metal fabrication space. "DTMP has a strong position in attractive markets. We are excited to partner with Terry and his team as they work to grow and improve the business," said Brian Crumbaugh, Vice President with Wynnchurch.

“DTMP has a strong position in attractive markets. We are excited to partner with Terry and his team as they work to grow and improve the business”

Wynnchurch and Wogan intend to leverage the team's operating track record to make strategic acquisitions and build a unique fabrication platform the likes of which does not currently exist in a space dominated by smaller operators. "DTMP is the perfect asset to serve as the cornerstone of our platform. The Company serves industry leaders in the Heavy Truck, Agriculture and Construction sectors from its centralized location in Missouri and has process capabilities spanning medium to heavy fabrication as well as stamping," added Terry Wogan. The transaction closed in June 2013. Terms of the investment were not disclosed.

Senior debt financing for the transaction was provided by Bank of the West. Bank of Montreal provided mezzanine financing and an equity co-investment. Lindquist & Vennum LLP served as legal counsel to Wynnchurch.

About Detroit Tool: Founded in 1947, Lebanon, MO based Detroit Tool Metal Products is a leading, full-service manufacturer of precision metal stampings, fabricated components and value-added assemblies for the heavy truck, construction, industrial, and agricultural end-markets.

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