Press Releases

Press releases > Generational Capital Markets Announces Sale of CEC Controls to Wood Group

Generational Capital Markets Announces Sale of CEC Controls to Wood Group

By Capital Markets

Jun 27, 2017, 05:00 et

CEC Controls

Generational Capital Markets, Inc., Member FINRA/SIPC, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, CEC Controls Company Inc., to Wood Group. 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 American 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.

About Generational Capital, LLC

Generational Capital, LLC is a Dallas, Texas-based merger & acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at www.gencm.com.

Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC. Generational Equity's website is www.genequityco.com and its online newsroom is www.gecpress.com.

GCM received The M&A Advisor's 2017 Private Equity Deal of the Year Award2016 Corporate and Strategic Acquisition of the Year Award, as well as the 2016 Materials Deal of the Year for its work on the Stern Rubber Company transaction. It has also been recognized for the 2016 M&A Deal of the Year (for deals valued $10mm - $25mm) for the acquisition of Pro Trans Logistics Inc. by Action Resources.