Golden Gate Capital has acquired Safety Technology Holdings (STH) from Wynnchurch Capital. The company will be led by the current management team who will also continue as investors in STH.
Safety Technology Holdings, through its Humanetics, HITEC & SDI subsidiaries, is a provider of biofidelic anthropomorphic test devices (ATDs), commonly known as crash test dummies, and related sensor measurement systems. The company’s products are used for the development and certification of occupant safety protection technologies across a variety of end markets including automotive, aerospace, industrial and medical devices. Safety Technology is headquartered in Plymouth, MI (www.humaneticsatd.com) (www.hitecorp.com) (www.sensdev.com).
“Industrial technology, specifically test, measurement and sensors, is a rapidly growing and highly fragmented industry. We look forward to partnering with management to help build STH into one of the most comprehensive test measurement and sensor companies in the world,” said Rajeev Amara, Managing Director of Golden Gate Capital.
Golden Gate Capital targets companies across a range of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing. The firm has approximately $12 billion of capital under management and is based in San Francisco (www.goldengatecap.com).
“We are excited to partner with Golden Gate Capital, who has demonstrated a proven track record of building long-term value for its portfolio companies,” said Christopher O’Connor, STH’s President and CEO. “Golden Gate Capital has exhibited a full understanding of Humanetics’ social responsibility and offers us long-term backing to support the ‘next 60 years’ of continued product and regulatory growth for our customers worldwide.”
Wynnchurch Capital makes investments of $10 million to $90 million in middle-market companies that have revenues of $5 million to $500 million. Sectors of interest include niche manufacturing, transportation & logistics, business services, value-added distribution, energy and power services, general industrials, and metals & mining. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion. The firm was founded in 1999 and is located in the Chicago suburb of Rosemont with additional offices in Detroit and Toronto (www.wynnchurch.com).
“Wynnchurch was essential in driving corporate initiatives that allowed for improved quality, throughput and technology ultimately benefiting all our customers worldwide. Wynnchurch facilitated our ability to invest in advanced products, new production equipment, enhanced materials and expanding our resources to greatly improve the performance of our company,” said Mr. O’Connor.
GE Capital and KKR Financial provided financing to support the transaction. Harris Williams advised STH. Baird advised Golden Gate Capital.
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-4-13
