Mon, 19/11/2012 - 10:15
The Resolute Fund II SIE, an affiliate of The Jordan Company, has partnered with the management team of Sequa Automotive Group to purchase the business from its parent company, Sequa Corporation, a diversified industrial company with operations in aerospace and metal coatings.
Financial terms of the transaction were not disclosed.
Sequa Auto is a supplier of highly engineered automotive components. The company operates under two business segments: Casco Products Corp and ARC Automotive. Casco is a leading supplier of automotive power outlets, connectivity devices and sensors. ARC is a leading independent provider of airbag inflators, the critical component in a passive airbag system that causes the airbag to deploy in a vehicle.
“Sequa Auto is a market leader with exciting growth prospects that has built strong global customer relationships over time based on its superior service, engineering capability, reliability and innovative products,” says Jonathan F. Boucher, a managing principal at Jordan. “We look forward to partnering with Sequa Auto’s exceptional management team to continue to grow the business, strengthen its market presence and enhance its industry-leading operating capabilities.”
“Jordan is widely respected as a long term investor and builder of businesses, and will bring both financial and operating resources to our company which will help us to continue to grow organically and through acquisitions to better serve our customers,” says Ali El-Haj, chief executive officer of Sequa Auto. “We look forward to partnering with Jordan to achieve our strategic growth objectives and continue to provide our customers with the service and high-quality products that they have come to expect.”
Mayer Brown acted as legal adviser to The Jordan Company.
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