Middle market private equity firm Wynnchurch Capital has sold Android Industries to a buyer group consortium principally led by Mitsui & Co (USA), Dundee Corporation, Rick Renaud and management.
The company will continue to be led by the current executive management team. Terms of the transaction have not been disclosed.
Headquartered in Auburn Hills, Michigan, Android specialises in outsourced complex modular assembly and sequencing for the automotive industry, and related supply chain logistics. It provides assembly services for a variety of chassis and interior modules, including tyre and wheel, engine, suspension, instrument panels and consoles, across 16 plants in five countries. It also manages the full logistics for over USD8bn in related annual material spend.
Frank Hayes, a partner at Wynnchurch, says: "Android has led the outsourcing of modular assembly by automotive OEM's through exceptional execution, a focus on cost and technology leadership, and an innovative spirit in everything they do. Its global leadership is a clear reflection of management's dedicated philosophy of continuous improvement and always providing best-in-class solutions to its customers. We are proud to have partnered with the Android team during this ascent over the last ten years and wish them continued success with their new partners.”
Jon Gregory, Android CEO, says: "We wish to thank Wynnchurch for their partnership throughout an explosive period of growth and change. Their support in our investments in groundbreaking innovation and building a global footprint, during a rather tumultuous time in the automotive sector, was critical in our achieving the success we have had. We appreciate their contributions and look forward to the next phase of Android's global expansion with our new ownership group.”
