NILES, Mich. – Modineer Co., Inc. has acquired Pulverman, a Penmark Technologies Company, which operates as an ISO/IATF-certified supplier of metal fabrications to the tier-one heavy / medium truck, commercial vehicle and off-highway industries.
Headquartered in eastern Pennsylvania and vertically integrated, Pulverman provides engineered metal fabrication assemblies as well as extensive high-compliance finishing services across a variety of metals including carbon, galvanized, stainless steel and aluminum. Owned and operated by the Mark family, Pulverman’s success is a testament to the strong work ethic and culture developed over 80-years.
Modineer, owned by Hall Capital, Westbourne Capital Partners and other private investors, is a leading fabricator of low to medium volume complex metal assemblies for the automotive, military, heavy truck/trailer, agriculture and powersports markets utilizing stamping, laser/press, roll forming, welding, machining, tube-fabrication, powder coating, e-coating, and CARC painting.
Headquartered in Niles, Michigan, Modineer has 1,500+ employees and manufactures more than 50 million components per year from 12+ facilities totaling more than 1.5 million sq. ft. located in Michigan, Indiana, Missouri, Pennsylvania, Kentucky, New Mexico, and Juarez, Mexico.
The Pulverman transaction marks the second acquisition by Modineer within the last two years. Rob Crisp, Managing Partner of Westbourne Capital Partners, said, “Pulverman expands upon Modineer’s technical expertise and robust manufacturing capabilities. We are thrilled to be working with the team at Pulverman and we look forward to continuing to invest in Modineer to better serve our customer base and accelerate the Company’s next phase of growth.”
Angle Advisors served as Pulverman’s financial advisor in connection with the transaction.
About Westbourne Capital Partners
Westbourne Capital Partners is a private investment firm that partners with family offices to deploy capital into direct investments in private companies. A successful track record consulting with, and investing in, family-owned enterprises makes Westbourne Capital Partners particularly well-suited to invest in family and founder owned businesses in the manufacturing sector, particularly when ownership is concerned about the impact outside investors might have on the business and its stakeholders. Westbourne Capital Partners is focused on investing in businesses and building long-term shareholder value. For more information on Westbourne, please visit www.westbournecp.com.
About Hall Capital
Hall Capital is a family-owned private investment company with offices in Nashville, Oklahoma City, Chicago, Dallas and Tulsa. Its roots extend back to legendary automotive pioneer Fred Jones’ first enterprise in 1920. Today, led by Jones’ grandsons – Fred Hall, Kirkland Hall, and Brooks “Boots” Hall, Jr. – Hall Capital is home to a diversified collection of business interests focused on automotive, real estate and private investment. Hall Capital’s automotive investment platform is The Fred Jones Companies (“TFJC”). For nearly a century, TFJC has been involved in every aspect of the automotive industry on four continents, including remanufacturing transmissions and engines, OEM powertrain distribution and reverse logistics, Tier 1 and aftermarket parts and accessories, vehicle service and retail dealerships. For more information, visit www.hall-capital.com.