Mayville Engineering Company has entered into an agreement to acquire sheet metal manufacturer Accu-Fab, LLC from Tide Rock Holdings, a consulting company. This is reported in the Mayville press release.
The value of the transaction is $140.5 million. The financing of the transaction involves the use of available funds and credit lines provided by Wells Fargo and JPMorgan Chase.
The transaction is expected to close in the third quarter of 2025, in accordance with customary closing conditions. JP Morgan Securities is acting as an advisor to MEC as part of the transaction.
The deal aims to strengthen Mayville's position in fast-growing markets through Accu-Fab's expertise in precision metal fabrication for energy infrastructure, data centers, and renewable energy sources. Accu-Fab's production facilities amount to almost 200,000 square feet in Raleigh, North Carolina, and Wheeling, Illinois.
MEC plans to finance the purchase with cash and existing credit lines with the support of Wells Fargo and JPMorgan Chase. Following the acquisition, MEC expects a net debt-to-EBITDA ratio of about 3.0x and plans to reduce leverage within 18 months.
Tide Rock is an American consulting company in the field of production, distribution and business services. Tide Rock is focused on economically sustainable B2B companies. The company is headquartered in Solana Beach, California. Tide Rock Holdings acquired Accu-Fab in 2022.
AccuFab is an American developer of integrated solutions for precision sheet metal products in the field of energy infrastructure and data centers. The headquarters is located in Wheeling, Illinois. in the field of energy infrastructure and data centers
Mayville Engineering is a company that manufactures metal parts and assemblies using advanced technologies for the automotive industry. In addition, the company is engaged in coating and finishing parts to enhance the durability and aesthetics of products (powder coating and painting). The headquarters is located in Mayville, Wisconsin.
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