Stellex Capital Management Teams With Swift For Niche Acquisition Strategy

Oct 24 2017 | 10:40pm ET

Stellex Capital Management has announced a partnership with automotive industry veteran and former Diversified Machine CEO Bruce Swift to pursue a niche acquisition strategy in the manufacturing and automotive space.

Swift brings more than 30 years of senior management experience within the automotive industry to his new role, the company said in a statement. Swift was most recently CEO of Diversified Machine, Inc., a leading vertically-integrated supplier of fully engineered chassis and powertrain components and modules for the automotive OEMs and Tier 1 suppliers. During his tenure at Diversified Machine, the company realized six-fold growth through organic growth and strategic global acquisitions.

Beforehand, Swift was president of Metaldyne Driveline Division, a global $800 million business unit of Metaldyne Performance Group comprised of 19 manufacturing facilities in five countries with 3,600 employees. Swift also held a number of executive purchasing positions at Ford Motor Company and began his career in the automotive industry at Honda of America, where he was responsible for the North American supply base expansion and localization of vehicle parts and systems.

“We are excited about teaming with an experienced executive like Bruce and leveraging his expertise in the space as we initiate a search for acquisitions that align with our investment acumen and goals,” said managing partner Mike Stewart.  “We plan to deploy at least $100 million of equity into this strategy with Bruce.”

Founded in 2014 by Stewart and Ray Whiteman, both former Carlyle Group partners, Stellex invests in middle market companies with enterprise values typically between $50 million and $500 million with individual equity investments typically between $25 -100 million. The firm raised $870 million for its debut middle market private equity fund in early July 2017.

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