The Jordan Company has acquired Sequa Automotive Group, a division of Sequa Corporation. Sequa Corporation is a portfolio company of The Carlyle Group.
Sequa Automotive Group is comprised of ARC Automotive, a manufacturer of airbag inflators for the global automotive industry, and CASCO Products, an automotive supplier of power sources for consumer electronic and handheld devices, sensors, and other vehicle equipment. ARC Automotive has manufacturing operations in Knoxville, TN; Xian, China; Reynosa, Mexico; and Morgantown, KY. Sales offices are in Detroit, Seoul and Tokyo. CASCO Products has locations in Novi, MI.; Morgantown, KY; Bridgeport, CT; Montreal, Canada; Sao Paolo, Brazil; Frankfurt, Germany; Turin, Italy; Menzel Bourguiba, Tunisia; and Suzhou, China. Sequa Automotive Group employs about 2,900 people worldwide and is based in Bridgeport, CT (www.sequaag.com).
Sequa Corporation is a diversified industrial company with operations in the aerospace, metal coatings and automotive industries. The company is based in Tampa, FL (www.sequa.com).
“This is a positive development for both Sequa Automotive and The Jordan Company,” said Armand Lauzon, Jr., Chief Executive Officer of Sequa Corporation. “Jordan anticipates taking this business to the next level of success in terms of new investment and growth.”
The Jordan Company is a middle-market private equity firm with over $6 billion of assets under management. The firm is headquartered in New York and has offices in Chicago, IL and Shanghai, China (www.thejordancompany.com).
The Carlyle Group invests in buyouts, growth capital, real estate and leveraged finance in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. The Carlyle Group employs 1,300 people in 32 offices across six continents and is based in Washington, DC (www.carlyle.com).
Quarton Partners and Barclays acted as exclusive financial advisors to Sequa Corporation and The Carlyle Group.
Quarton Partners is a specialty investment banking firm serving privately held and publicly traded companies as well as private equity firms. Quarton assists its clients with mergers and acquisitions, private capital raising, restructurings, valuations, and other financial advisory services. Quarton Partners is headquartered in Birmingham, MI (www.quartonpartners.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-19-12