Our Success

Electro-Wire Products

Electro-Wire was founded by Thomas M. Wheeler in the early 1970’s. The Company grew in size and reputation over the next two decades, first from the production of wire harnesses for a specific application such as an instrument panel harness to the complete design, manufacture and assembly of the electrical distribution system for an entire vehicle. Electro-Wire was ultimately awarded the complete electrical system responsibility for Ford’s Econoline and Windstar vehicles. From a single plant located in rural Mason, Michigan to production facilities throughout the world, the Company continued to grow and prosper until its sale in 1995. The assets of Electro-Wire, with the exception of all its real estate were sold to Alcoa Fujikura. The Company changed its name to TMW and under the leadership of Mr. Wheeler began to invest and develop portfolio companies that excelled in the marketplace.

GT Automotive

GT Automotive was formed from the combination of two competitors, Tamco and Gel. Tamco, located in Windsor, Ontario, was a manufacturer of gear shift levers for the North American marketplace, primarily focused on column mounted mechanisms for light duty trucks. Subsequent to the acquisition of Tamco, TMW identified Gel, located in southeast Michigan, as a synergistic acquisition candidate to Tamco as Gel produced column mounted mechanisms for the automotive market. Gel was subsequently acquired and the two companies were combined to create GT Automotive. Shortly after the formation of GT Automotive, TMW was approached by Dura Automotive, a public company looking to expand its market share in gear shift levers. Within 18 months of the acquisition of Tamco and Gel, Dura purchased the combined GT Automotive for a cash on cash return of over 5.5 times.

EPIC Technologies

This investment began with the belief that electronic manufacturing services (EMS) companies would benefit from the growing trend for OEM’s to outsource their production of electronic products to contract manufacturers. TMW identified two EMS companies that were acquired in 1999 and combined to form the operations of EPIC Technologies (EPIC). Within five years, EPIC developed industry leading metrics related to EBITDA margins, inventory turnover and for the cash conversion cycle. As a result of its success in the marketplace, 65% of the Company was sold in 2004 for an 87 times return on invested capital. TMW continued to be represented on the EPIC Board until its sale in 2013.

Pullman Industries

Pullman became a world leader in metal forming technology using the roll-forming process. Pullman was acquired in 1996 and sold in 2006. Revenues grew from less than $20 million to $250 million. Products included complete light truck load floors, producing 100 percent of GM’s requirements (often exceeding one million per year) as well as proprietary products such as the P-Tech structural and impact components, including bumper systems.

As part of the TMW family of companies, Pullman was strengthened by access to both financial resources and a strong set of core business values. This second element captured the unique value of the TMW relationship, its emphasis on encouraging entrepreneurship and competitive excellence in each of its companies. TMW’s approach emphasized business planning which was customer-centric, recognized the value of human capital and recognized the imperative for continuous improvement. The end result was a focus on operational excellence driven by both Pullman’s internal management and supported by TMW. The sale of Pullman in 2006 produced an 8 times return on invested capital.