Martin Wells sold to Industrial Parts Depot, LLC

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Transactions

Martin Wells has been sold to Industrial Parts Depot, LLC

Kerlin served as the investment banker to Martin Wells, LLC, an eighty year old Los Angeles based engine parts manufacturer supplying the Original Equipment and Replacement markets. The company’s products include valve seats and valves for gasoline, diesel and natural gas powered engines worldwide. The company assets were sold to Industrial Parts Depot, LLC, a manufacturer of engine parts for heavy-duty diesel and natural gas powered equipment, based in Torrance, CA. The Martin Wells™ and Well-Tite™ brand names have a long established reputation in the professional engine rebuilding industry. The Company’s Well-Tite proprietary metal alloy is considered a standard in the valve seat industry.

Kerlin was retained by a major bank trust company which had the authority to manage the asset for a passive owner. The company’s general manager had abruptly resigned in a dispute, and Kerlin was asked by the bank trust company to oversee the daily operations and protect the assets while at the same time, developing an expedited plan to sell the company. Kerlin professionals stepped into management and financial roles to insure uninterrupted operations and worked to streamline logistics and develop operational information necessary to maximize value. After a focused marketing period, IDP prevailed as a strategic buyer that could deliver the greatest value to shareholders while providing continuity to the Company’s employees and customers. Kerlin represented the owner in the negotiations and was able to get to a successful closing.