Wynnchurch’s Fabco Snaps Up R. Cushman

Fabco Automotive Co., the California-based specialty gearbox, axle and transfer case products maker, completed its acquisition of Cushman & Associates, a Michigan-based provider of power transmission products for defense, transportation and industrial clients. Fabco is backed by PE sponsor Wynnchurch Capital, which acquired the company with its management and Stone River Capital Partners.

PRESS RELEASE:

Wynnchurch Portfolio Company, Fabco Automotive Corporation, Acquires R. Cushman and Associates
Tuesday, April 10, 2012

LIVERMORE, CA, FARMINGTON, MI, and CHICAGO, IL – Fabco Automotive Corporation (“Fabco”), a portfolio company of Wynnchurch Capital (“Wynnchurch”), has completed its acquisition of R. Cushman and Associates (“Cushman”). Based in Farmington, MI, Cushman is a leading North American supplier of highly engineered power transmission solutions for the defense, transportation and industrial markets.

In September 2011, Wynnchurch acquired Fabco in partnership with management and Stone River Capital Partners. Fabco is a manufacturer of specialty gearbox, axle and transfer case products for medium and heavy duty vehicles which operate in end markets where extreme conditions and challenging environments require highly engineered drive train solutions and reliability. Fabco’s CEO, Al Sunderland, has been working with Wynnchurch to pursue strategic acquisitions and stated that, “Cushman brings to Fabco a Midwest manufacturing presence, new supply chain and assembly capabilities, a complementary customer base and additional sales and engineering resources.” Mr. Sunderland added, “We are very excited to partner with Cushman’s management team to better serve our customers with an expanded product offering.”

About Fabco Automotive Corporation: Based in Livermore, CA, Fabco is a North American supplier of highly engineered, specialty gearbox, axle and transfer case products for vehicles used in severe service applications. Since 1918, Fabco has been dedicated to the commercial vehicle industry, and its products are based on decades of experience providing solutions for severe service applications. More information about Fabco can be found at: www.fabcoautomotive.com.
About R. Cushman and Associates: Based in Farmington, MI, R. Cushman and Associates was founded over 20 years ago as an engineering design firm of power train components and evolved into a highly profitable producer of specialized proprietary drive train and power transmission products. More information about Cushman can be found at: www.rcushman.com.
About Wynnchurch Capital, Ltd.: Wynnchurch Capital, Ltd., headquartered in the Chicago suburb of Rosemont, Illinois with offices in Dallas, Detroit and Toronto and an affiliate office in Montreal, was founded in 1999 as is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle-market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. More information about Wynnchurch Capital can be found at: www.wynnchurch.com.
About Stone River Capital Partners: Stone River Capital Partners is a private investment firm based in Birmingham, Michigan that focuses on acquisitions of privately owned, high quality businesses. We customize transactions to meet the goals of all parties, and we pride ourselves on being supportive partners to management teams. With extensive backgrounds in management, finance and operations, SRCP seeks to combine our skills with our partner companies to help facilitate their growth. More information about Stone River Capital Partners can be found at: www.stonerivercap.com.