SHELBY TOWNSHIP, Mich., Dec. 27, 2022 /PRNewswire/ — Torque Capital Group today announced the acquisition of Metal Forming & Coining Corporation (“MFC / Netform” or “the Company”), a leading manufacturer of advanced, highly engineered flow-formed and cold-formed components and assemblies, primarily serving transmission and propulsion applications in the automotive and truck markets. With capabilities for existing and future powertrain technologies, MFC / Netform provides unique value by improving design, material usage and the logistics surrounding production of critical parts.
Paul Kessler, MFC / Netform’s owner commented, “we have built an incredible platform, product and intellectual property portfolio, team and customer base over the years, and we are excited to have found a growth-oriented partner with the industry experience necessary to facilitate further growth of MFC / Netform and to better serve our customers.”
Tim Cripsey, who has spent nearly two decades in senior leadership with the Company, has transitioned into the role of President post-closing, said, “MFC / Netform is well-positioned to help our customers navigate the continued transmission evolution, particularly electrification, given our unique capabilities. Our partnership with Torque will allow us to make new investments into technology, people and capabilities to continue enhancing and expanding our offerings.”
Terry Culmone, Partner at Torque Capital, added, “for nearly seventy years, MFC / Netform has had a reputation as a leading, differentiated supplier to the transportation markets. In an industry focused on price, MFC / Netform has thrived given its ability to consolidate manufacturing processes, eliminate waste and reduce costs for its blue-chip customer base. We are excited to partner with this talented team and support the company in its next phase of growth.”
James Rosseau, an Operating Partner with Torque Capital, will be working alongside the MFC / Netform team. Mr. Rosseau has over three decades of experience in automotive manufacturing, including previously serving as CEO of Magneti Marelli (North America), CEO of Vari-Form and CEO of FIAMM (North America).
About Metal Forming & Coining Corporation
Founded in 1953, MFC / Netform is a leading manufacturer of advanced flow-formed and cold-formed components and assemblies primarily focused on transmission and propulsion applications in the automotive and truck markets. The Company is a recognized industry leader in applying its advanced process capabilities to the development of innovative components and assemblies which are characterized by high strength to weight ratios, near-net shape specifications that require little to no additional secondary operations, and reduction in weight, waste, and cost. The Company operates out of its facilities in Maumee, OH and Shelby Township, MI.
For additional information visit www.mfccorp.com.
About Torque Capital Group
Torque Capital Group is a middle market private equity firm that takes an operational approach to investing in businesses at a critical inflection point. Torque deploys patient capital behind North American based manufacturing, niche / enthusiast branded products, and supply chain service companies, with a particular expertise in transportation related markets. Torque serves as a resource to its portfolio company management teams, offering strategic, operational, and financial resources to accelerate the building of long-term value for all stakeholders.
For additional information visit www.torquecap.com.
SOURCE Torque Capital Group
