CentroMotion Announces New Ownership
(PRUnderground) September 5th, 2023
CentroMotion today announced the finalization of the previously announced definitive agreement to be acquired by affiliates of Lone Star Funds. CentroMotion is a leading designer and manufacturer of highly engineered products and systems for the industrial and transportation markets encompassing seven key brands: CrossControl, Elliott, Gits, maximatecc, Power-Packer, Weasler Engineering and Carlisle Brake and Friction. The Company will retain its headquarters in Waukesha, WI, and continue to be led by Roger Roundhouse, CentroMotion CEO.
“First, I would like to thank the collective teams that have enabled CentroMotion’s success thus far as we continue to build, improve, and scale CentroMotion as a leader in the portfolio of products and systems which support our premier customers, end market reach, and broad geographic base. CentroMotion is excited about the opportunity to continue on our path of value creation via our plans for further growth and continuous improvement in our business through our partnering with Lone Star,” said Mr. Roundhouse.
CentroMotion designs and delivers highly engineered products that enhance the safety, reliability and productivity of equipment used in transportation, agriculture, construction, mining and demanding industrial environments. Our innovative team works collaboratively with customers through our family of trusted, established brands, bringing deep subject-matter expertise in complementary technologies. This expertise, combined with our exceptional scale and geographic reach, makes us a reliable partner to help our customers achieve their goals, and provide end users with the best equipment possible. Our well-known brands include Power-Packer for hydraulic motion control and stabilization systems; CrossControl and maximatecc for operator information and human-machine interface systems; Elliott Manufacturing and Weasler Engineering for power and force transmission through flexible and rigid driveline systems; Gits Manufacturing for high-performance engine thermal and emission control solutions; and Carlisle Brake & Friction for materials and mechatronic solutions for off-highway brake and transmission products. Learn more about CentroMotion at www.centromotion.com.
About Lone Star Funds
Lone Star, founded by John Grayken, is a leading private equity firm advising funds that invest globally in real estate, equity, credit, and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized 22 private equity funds with aggregate capital commitments totaling approximately $86 billion. The firm organizes its funds in three series: the Commercial Real Estate Fund series; the Opportunity Fund series; and the U.S. Residential Mortgage Fund series. Lone Star invests on behalf of its limited partners, which include institutional investors such as pension funds and sovereign wealth funds, as well as foundations and endowments that support medical research, higher education, and other philanthropic causes. For more information regarding Lone Star Funds, go to www.lonestarfunds.com.
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