Wood Group acquired CEC Controls Company Inc., a client of Generational Capital Markets, Inc., Member FINRA/SIPC. The acquisition closed May 23, 2017.
CEC Controls is a designer and builder of industrial & process control systems primarily in the automotive manufacturing industry. The company is based in Warren, Michigan, near Detroit. Founded in 1966, CEC has 12 offices in North America and one in Romania, employing more than 220 people. Its clients include Ford, GM, Fiat-Chrysler and many Tier 1 manufacturers.
Wood Group, based in Aberdeen, Scotland, is an international energy services company operating in more than 40 countries. The group designs, modifies, constructs and operates industrial facilities mainly for the oil & gas sector. Other services include a wide range of specialist technical solutions such as subsea, automation and integrity solutions. Through the acquisition, Wood Group’s automation and control division will be able to expand into the Midwest U.S. and develop relationships with the American original equipment manufacturers.
Generational Equity's Executive Managing Director Randy Kamin established the relationship with CEC Controls, and Generational Capital Markets Managing Director Phil Pizzurro, with support from GCM VP Mark Galovic, successfully closed the deal.
“The management team at CEC has done an outstanding job of growing and building a successful business and WG is the perfect partner from both a cultural and strategic perspective. This partnership will help CEC accelerate its international expansion efforts. We are proud to have played a role in this success story,” said Pizzurro.