August 3, 2022- TRM Equity II, a private investment fund, has acquired all of the equity of WDC Acquisition LLC, known as Wellman Dynamics, Creston, Iowa, which manufactures large-scale, complex magnesium and aluminum castings for the defense and commercial aerospace markets. The sale closed July 29. Wellman has been around for 100 years and employs 350 people.
Jeffrey Stone, managing director for TRM, says that due to Wellman's "unique capabilities and status as a critical supplier, its customer base has been very supportive during the last few years in a challenging environment.” Stone notes that “very significant investments were made to modernize the facility and to support new defense programs since 2018.” TRM Equity II will leverage its own experience with operating foundry assets to help Wellman achieve continued success.
