Trive Capital (Dallas), a private equity firm, through its affiliate WDC Acquisition LLC has acquired substantially all of the assets of Wellman Dynamics Corporation (Creston, Iowa) pursuant to Section 363 of the U.S. Bankruptcy Code. Wellman is an aerospace supplier that manufactures large scale, complex magnesium and aluminum castings for the defense and commercial aerospace markets and other industrial segments.

The sale closed May 7.

“This is a really big win for all of the Company’s stakeholders. Our customers include many of the world’s leading producers of military and commercial helicopters, jet engines, rockets and missile systems,” said Jim Mahoney, CEO, WDC.

Wellman employs around 350 people.

“We couldn’t be more pleased to bring this long bankruptcy process to a close for WDC and its employees,” stated Blake Bonner, a partner with Trive Capital.