3 Jan 2011
ERJ staff report (R&PN)
Detroit, Michigan -- Gasket materials supplier Wolverine Advanced Materials LLC has been sold to private equity firm Wynnchurch Capital Ltd.
The terms of the sale were not disclosed in a statement released by EP Management Corp., Wolverine's parent company.
Wolverine operates plants in Blacksburg, Virginia, Leesburg, Florida, Germany, South Korea and China. It has sales offices in Brazil and India with a technical centre in Japan. The company employs nearly 400 people worldwide.
EP Management was formerly EaglePicher Corp., which entered bankruptcy in 2005, selling off several of its divisions under new ownership before exiting bankruptcy in 2009. Its two majority owners are investment firms Angelo, Gordon & Co. and Tennenbaum Capital Partners LLC.
In 2008, EaglePicher sold another automotive unit, Hillsdale Automotive, to Cerion LLC.
From Rubber & Plastics News (A Crain publication)
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