Rockwood Enterprises Group, Inc. Announces Acquisition of Grinder Wear Parts, Inc.
Tampa, April 10, 2019 – Rockwood Enterprises Group, Inc. (“Rockwood”) announced today that it acquired Grinder Wear Parts, Inc. and affiliated businesses Duramax Wear Parts, Inc. and Apollo Equipment Net, LLC (collectively, the “Company”). Financial terms were not disclosed. Rockwood’s capital partner in the transaction is investment firm MezzCap Partners, LLC (“MezzCap”).
About the Company
Headquartered in Largo, Florida, Grinder Wear Parts is a leading manufacturer and supplier of heavy- machine wear-parts to North American-based clients in Forestry, Wood Processing, Agriculture, and Recycling industries. Duramax Wear Parts was established in 2017 and provides products and services to clients in other industrial markets. Grinder Wear Parts and Duramax’s singular focus on heavy-machine wear-parts allows the Company to deliver the highest level of customer service and customization, driving industry leading performance. Apollo Equipment is a full-service heavy-equipment brokerage firm with a deep history of excellence serving buyers and sellers of industrial machinery. Operating from a 7.5-acre campus with 35,000 square feet of engineering, state of the art manufacturing, warehousing, and service space with rail service, the Company is well-capitalized and ideally suited to continue to provide excellent customer service and timely delivery of mission-critical heavy-machine wear-parts and equipment. For more information, please visit www.grinderwearparts.com.
“Wear-parts are mission-critical components of heavy-machinery which are poised to benefit from the growth of investment in America’s infrastructure. The Company is well-positioned to serve industries in these plays given its portfolio of premium wear-parts and equipment that deliver best-in-class performance and reliability at competitive prices.” said Charles Rockwood, CEO of Rockwood. “Grinder Wear Parts, Duramax Wear Parts, and Apollo Equipment have best-in-class teams with a strong thirty-year history of providing quality services to clients across North America. We look forward to working with our partner MezzCap as we grow the Company.” said Walt Kazmierczak, EVP of Rockwood.
From Grinder Wear Parts
“Grinder Wear Parts Inc.’s thirty-year legacy has been built on excellent client service and product quality. The team at Rockwood and MezzCap have a strong record of growth with cornerstones built on these same values. We are extremely pleased to be part of the new team and look forward to expanding our services to the industry.” said Wayne Brown, EVP of Grinder Wear Parts.
From MezzCap Partners
“We are excited to partner with the Rockwood team in this transaction. Our investment in Rockwood reflects our deep commitment to creating well-capitalized, management owned companies that are positioned for substantial growth.” said Jeffrey Kabot and Brian MacDonald, MezzCap’s Managing Directors.
About Rockwood Enterprises Group
Rockwood Enterprises Group, Inc. owns and operates companies that seek to create positive long-term value for their stakeholders. The companies we operate, and the clients and communities they serve, focus on North American infrastructure markets.
About MezzCap Partners
MezzCap Partners is a private investment firm with a successful track-record built on partnerships with exceptional management teams. MezzCap has deployed capital across a broad range of industries and structures its investments in a way that minimizes equity dilution of the company. Post-closing, MezzCap provides strategic planning assistance and follow-on capital for further growth. For more information please visit www.mezzcapital.com.
Rockwood Enterprises Group, Inc.
President & Chief Executive Officer
Walter Kazmierczak Executive Vice President
MezzCap Partners LLC