Global alternative asset manager The Carlyle Group has acquired 100% of the outstanding shares of Walbro Engine Management, a global small engine parts manufacturer, from Sun Capital Partners.
Terms of the transaction were not disclosed. Equity for the investment comes from Carlyle Japan Partners II.
Headquartered in Tucson, Arizona, Walbro is the world’s largest manufacturer of carburettors and a major manufacturer of fuel and air management components mainly targeted at the outdoor power equipment industry. Walbro has significant sales, R&D, and production capabilities in Japan and the United States, and also has manufacturing facilities in Thailand, China and Mexico.
Tony Martin, Chief Executive Officer, Walbro Engine Management, says: “Walbro supports worldwide markets with the aim to be the industry leader in the global small engine market by anticipating customer needs and delivering innovative solutions to a world that demands a cleaner environment. This transaction is consistent with our aim to satisfy increasing global market demands and we plan to leverage Carlyle’s global network to pursue further growth.
“I am proud of the efforts of Walbro employees around the world in developing, manufacturing and marketing innovative products that add value to our company and position Walbro for the next level of growth with the support of The Carlyle Group,” Martin says. “The resources of The Carlyle Group will help us continue to serve our customers with the products and technology they need to meet today’s environmental and business challenges.”
Kazuhiro Yamada, Managing Director and Co-Head of Carlyle Japan, says: “Walbro is led by a strong management team with outstanding global presence. We will harness Carlyle’s global network and financial resources to help Walbro expand to the next stage of product innovation and realise global growth.”
