DETROIT -- Gasket materials supplier Wolverine Advanced Materials LLC has been sold to private equity firm Wynnchurch Capital Ltd.
The terms of the sale were not disclosed in a statement released by EP Management Corp., Wolverine's parent company.
Wolverine operates plants in Blacksburg, Va., Leesburg, Fla., Germany, South Korea and China. It has sales offices in Brazil and India with a technical center in Japan. The company employs nearly 400 people worldwide.
Terry Theodore, partner at Wynnchurch's Detroit office, said in a statement:
"Wolverine has a world-class, customer focused management team led by (President) Scott Koepke, a deep global footprint and innovative product and process technology."
EP Management was formerly EaglePicher Corp., which entered bankruptcy in 2005, selling off several of its divisions under new ownership before exiting bankruptcy in 2009. Its two majority owners are investment firms Angelo, Gordon & Co. and Tennenbaum Capital Partners LLC.
In 2008, EaglePicher sold another automotive unit, Hillsdale Automotive, to Cerion LLC.