MANTALINE CORPORATION HAS BEEN ACQUIRED BY CW INDUSTRIAL PARTNERS
Birmingham, Michigan – March 14, 2024 – Angle Advisors is pleased to announce that CW Industrial Partners, an industrial focused private equity firm, has acquired Mantaline Corporation, a leading manufacturer of customized, extruded elastomeric profiles for the automotive, heavy truck and industrial markets. Angle Advisors acted as the exclusive investment banking advisor to Mantaline Corporation in completing the transaction.
Headquartered in Mantua, OH, with additional manufacturing facilities in Hiram, OH, San Antonio, TX, and Monterrey, Mexico, Mantaline Corporation is a leading manufacturer of highly engineered extruded elastometic products such as seals, protectors and insulation used in diversified, industrial end markets. Mantaline boasts a 60+ year track record of offering a comprehensive array of rubber and plastic products to a loyal, blue-chip customer base.
“We are thrilled to announce the acquisition of Mantaline” said CWI Partner, Matt Lombardo. “Mantaline’s technology, engineering and operational excellence coupled with industry leading products, sets the foundation for a strong platform for growth. We are excited to partner with, and support, Mark Trushel, the Mantaline management team and employees with the achievement of their long-term strategy.”
“We are excited to transition from an ESOP-owned business to partnering with CW Industrial Partners given the firm’s industry expertise and demonstrated ability to identify and drive growth opportunities across industrial manufacturing businesses. CWI is an ideal partner for Mantaline given their focus on plastics and polymer businesses and strong operational acumen,” said Mark Trushel, Mantaline CEO.
“We are appreciative of the many professionals who aided in completing this transaction. We want to say a special thanks to the most significant members of our transaction team whose performance was outstanding. Thanks to the Angle Advisors team in Birmingham, MI for leading the process from inception to completion, Todd Broski at Franz Ward in Cleveland, OH for his service as transaction legal counsel, and Mark G. Mills in Beachwood, OH for serving in the capacity of ESOP trustee,” added Mark Trushel.
Mezzanine financing and equity were provided by PNC Mezzanine Capital. Senior financing was provided by Premier Bank. CWI was advised by Calfee, Halter & Griswold on the transaction.
Mantaline is a leading manufacturer of customized, extruded elastomeric profiles for the automotive, heavy truck and industrial markets headquartered in Mantua, OH, with additional manufacturing facilities in Hiram, OH, San Antonio, TX, and Monterrey, Mexico. The Company has a proven track record of growth, since its founding in 1964, through new product development and capability / facility expansion. For more information, visit www.mantaline.com
CW Industrial Partners (“CWI”) is an industrial focused private equity firm. Based in Cleveland, OH, CWI acquires lower-middle market companies in manufacturing and industrial service sectors and provides capital, support, and freedom to grow. Founded in 1999, the firm’s investors are primarily successful entrepreneurs and executives who contribute to the evaluation and investment process. For more information, visit www.cwindustrials.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 297 transactions since 2009 for multinational corporations, privately held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.