Capstone Headwaters, now Capstone Partners, a leading middle market investment banking firm, advised Western Forge & Flange Co. (Western Forge), a manufacturer of specialty forgings and flanges for flow control, on its acquisition by Wynnchurch Capital.
Founded in 1944 to support the shipbuilding industry during World War II, Western Forge is now a global source for companies requiring quality, forged products. Operating out of Texas, they provide world-class forging, heat treating, machining and metallurgical testing of pipe flanges and forgings to a variety of industries, including petrochemical, nuclear and military end markets. In November of 2018, Western Forge sought the assistance of Capstone Headwaters to advise on the sale of their company, resulting in the acquisition by Wynnchurch Capital.
Thank you to the Capstone team for believing in our company and representing us so well. The team did a fantastic job of revealing the value of our family company and matching us with a suitor who appreciated us. Their belief got us to the Dance, and we left with the best possible suitor. Capstone delivered! I highly recommend Capstone.
Gary Savadove, Board member at Western Forge, added “We felt fortunate to work with Capstone on this transaction and were delighted with the outcome. This was a very challenging transaction for a number of reasons and took much longer than contemplated (due to external, non-controllable factors). You and your team were “on” from the outset and remained that way until the day we closed. Your industry expertise, guidance, and support throughout the process were invaluable. In the end, we achieved a significant premium-to-market for our shareholders and found an excellent buyer / partner to take our company and employees to the next level. I hope we have an opportunity to work together again in the future.”
Mike Schumacher, Managing Director at Capstone Headwaters, commented “Clear understanding of the industrial flow control market and how to market through perceived end-market cyclicality resulted in CSHW optimizing value for a large shareholder base as well as finding the best partner to take forward this multigenerational family success story.”
Founded in 1999, Wynnchurch Capital is a private equity firm with more than $4 billion in committed capital under management. They provide capital, connections, expertise and experience to help middle-market companies write the next chapter of their growth story.