GT Exhaust, a provider of sound and emissions control products and a portfolio company of CID Capital, has been sold to Industrial Acoustics Company, a portfolio company of AEA Investors.
GT Exhaust is a provider of sound and emissions control products to the North American energy, power and heavy transportation industries. The company’s product line, which includes silencers, catalytic converters, diesel particulate filters and related accessories, is used in new installation and retrofit applications for large stationary engines. The company was founded in 1978 and is Lincoln, NE (www.gtexhaust.com).
CID Capital makes majority investments in lower-middle-market companies that have revenues of $10 million to $ 75 million and an EBITDA of at least $2 million. Sectors of interest include industrial manufacturing; proprietary education; branded consumer products; safety and security products; specialty food manufacturing and distribution; value-added distribution and logistics; medical devices and healthcare services. The firm is base in Indianapolis, IN (www.cidcap.com).
Industrial Acoustics Company is a global provider of engineered noise and acoustic control products to various industries, including energy & power, industrial, commercial construction, aviation, and automotive end markets. The company is based in Winchester, UK (www.industrialacoustics.com).
AEA manages approximately $5 billion of invested and committed capital in funds dedicated to three purposes: buyouts of middle market companies operating principally in four sectors – industrial, specialty chemical, consumer products and services; buyouts of smaller middle market companies in these same sectors; and mezzanine and senior debt investments. AEA is based in New York, NY (www.aeainvestors.com).
Lincoln International acted as the exclusive financial advisor to GT Exhaust, working closely with the company’s senior management team and CID Capital throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
“Through an aggressive, global marketing effort and unique insights into the buyer universe, drawn from several prior transactions in the exhaust and emissions space, Lincoln created a highly competitive process resulting in attractive alternatives for the shareholders with a very favorable outcome. Lincoln’s execution expertise, industry knowledge, and process guidance proved invaluable throughout the sale process,” said Scot Swenberg, Managing Director at CID Capital.
Lincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With thirteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm provides clients with senior-level attention, in-depth industry expertise and integrated resources. The firm is based in Chicago, IL (www.lincolninternational.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-3-12
