September 8, 2021 — Firm News
North America contains approximately 30,000 precision machining companies, yet few private equity firms consolidate this fragmented sector. White Wolf Capital, based in Miami, is working to change that dynamic through strategic acquisitions and platform building.
In February 2017, White Wolf launched Consolidated Machine & Tool Holdings LLC (CMT), a buy-and-build platform focused on precision machining. The platform has acquired or merged nine companies operating across 11 locations in the U.S. and Canada, each generating between $5 million and $20 million in annual revenue.
"Customers are excited about having a one-stop vendor that can perform all of the services they need," explains White Wolf Vice President Andres Gutierrez. The firm continues an aggressive acquisition strategy, with approximately $250 million in deal flow during the first quarter of 2021.
White Wolf, established in 2011 by former Cerberus Capital Management executive Elie Azar, targets midsize manufacturing companies with revenues up to $200 million and EBITDA up to $20 million. The firm's initial CMT acquisition in 2017 was Astro-Tek Industries, a California-based precision machining company serving aerospace and defense sectors.
CMT expanded from two shops in 2018 to nine by 2020, closing seven acquisitions during the pandemic year. White Wolf Managing Director Rich Leggio emphasizes that "cultural fit and alignment of interest and goals" matter most when evaluating potential acquisitions beyond financial metrics.
The platform prioritized integration efforts in 2021, consolidating portfolio companies onto unified ERP, payroll, and accounting systems while harmonizing purchasing and insurance coverage. Job creation remains central to CMT's expansion strategy amid economic recovery.