CRESTON, Iowa, Aug. 3, 2022 /PRNewswire/ — TRM Equity II (“TRM”), the Michigan based private equity fund, has acquired all of the equity of WDC Acquisition LLC, known by its trade name Wellman Dynamics (“Wellman”). The Company, located in Creston, Iowa, is an aerospace supplier known for manufacturing large scale, complex magnesium and aluminum castings for the defense and commercial aerospace markets. The sale closed July 29th, 2022. Wellman has been around for 100 years and has been a long-standing member of the Creston, Iowa community since 1965. Approximately 350 people are employed at Wellman.
Jeffrey Stone, Managing Director for TRM, commented: “Due to Wellman’s unique capabilities and status as a critical supplier, the customer base has been very supportive during the last few years in a challenging environment. Very significant investments have been made to modernize the facility and to support new defense programs since 2018. We are excited to have the opportunity to bring our foundry experience to the business. As a result of this transaction, Wellman is fortunate to have a strong balance sheet as it comes out of the post-Covid/extreme tight labor environment. These challenges are not unique to Wellman, but given its unique set of attributes and the situational benefits previously referenced, we are confident its performance will differentiate it in the years to come.”
About TRM Equity
TRM Equity is a private equity firm that seeks controlling investments in situations where the experience of our team can assist companies with operational improvement or transformation. The Firm’s core team has worked and invested together for over 15 years, applying a consistent approach in targeted manufacturing industries, and has a demonstrated track record of above market returns.
Media Contact
Jeffrey A. Stone
Managing Director
[email protected]
(800) 817-4152
Robert Sylvester
Managing Director
[email protected]
(800) 817-4152
SOURCE TRM Equity
