A centralizer assembly and method for manufacturing a centralizer assembly. The centralizer assembly includes a mandrel including a first raised region having a first diameter, and a turned-down region having a second diameter, the second diameter being smaller than the first diameter. The centralizer assembly also includes a first stop segment extending at least partially around the mandrel in the turned-down region, and a centralizer disposed at least partially in the turned-down region. The first stop segment is received between axial extents of the centralizer, to limit a range of motion of the centralizer relative to the mandrel.