TRM Equity Announces the Sale of a Majority Interest in Wellman Dynamics

For Immediate Release

TRM Equity Announces the Sale of a Majority Interest in Wellman Dynamics

Southfield, MI – January 14, 2026

TRM Equity II (“TRM”), a private equity firm focused on lower middle market control investments in special situations, successfully completed the sale of a majority interest in Wellman Dynamics (“Wellman”) to J.F. Lehman& Company (“JFLCO”). TRM will retain a meaningful minority share.

Headquartered in Creston, IA, Wellman isa leading provider of large-scale, high complexity magnesium and aluminum sand castings for aerospace and defense applications with capabilities to produce parts up to 4,000 lbs. with over 100 cores. The Company’s castings support critical rotary wing, fixed-wing, aeroengine, and other aerospace and defense programs for blue-chip OEM customers requiring high performance and reliability. Wellman has been operating for over 100 years and currently employs close to400 people.

Jeff Stone, Managing Director for TRM, commented: “When we acquired Wellman in2022, it was struggling to perform, with very significant past dues and experiencing challenges with liquidity. The team at Wellman embraced our approach and within months started to address technical and operational issues. In a period of industry dislocation, Wellman went from a systemic risk to a trusted partner and industry leader to its customers. It was an honor to have the opportunity to work with the Wellman team and build back its strong foundation and technical leadership. The execution of our thesis exceeded our expectations and is a win for our LPs, the TRM team, Wellman employees and Wellman customers. Wellman is the first exit for TRM Equity II and resulted in a return above the total committed capital for the fund. We look forward to participatingin the next stage of value creation with JFLCO."

About TRM Equity

TRM Equity (www.trmequity.com) is a private equity firm that seeks controlling investments insituations where the experience of our team can assist companies withoperational improvement or transformation. The Firm's core team has worked andinvested together for over 20 years, applying a consistent approach in targetedmanufacturing industries, and has demonstrated a history of above marketreturns.

Media Contact

Jeffrey A. Stone
Managing Director
jeffreystone@trmequity.com  
(800) 817-4152

Robert Sylvester
Managing Director
robertsylvester@trmequity.com
(800) 817-4152

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