Wynnchurch Exits Android Industries
Search

Wynnchurch Exits Android Industries

android nf1Wynnchurch Capital has sold its portfolio company Android Industries to a buyer group led by Mitsui & Co. (USA), Dundee Corporation, Wynnchurch’s Chairman Emeritus Rick Renaud and Android’s executive team.

hatherly nf“We are very pleased with the final results of our Android investment and commend management for their exceptional efforts during our long tenure together. This marks the last portfolio holding to exit from our Fund I and has ensured our inaugural fund remains a top performer,” said John Hatherly, Wynnchurch Managing Partner.

Android Industries provides modular assembly and sequencing for the automotive industry and also provides related supply chain logistics. Android provides assembly services for a variety of chassis and interior modules, including tire and wheel, engine, suspension, instrument panels and consoles, across 16 plants in five countries. Android also provides logistics services for approximately $8 billion of inventory each year and has assembled more than 130 million modules since 1990. The company was founded in 1974 and is headquartered in the Detroit suburb of Auburn Hills (www.android-ind.com).

hayes nf“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,” said Frank Hayes, a partner at Wynnchurch. “Android’s 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.”

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).

“We wish to thank Wynnchurch for their partnership throughout an explosive period of growth and change,” said Jon Gregory, Android CEO. “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.”

Lazard & Company served as the financial advisor and Perkins Coie served as the legal advisor to Android Industries.

© 2014 PEPD • Private Equity’s Leading News Magazine • 2-19-14

To search in site, type your keyword and hit enter