Sun Capital Partners said Monday that it has sold Walbro Engine Management to the Carlyle Group. Financial terms weren’t announced. Tucson, Arizona-based Walbro makes air and fuel management and ignition systems for the non-automotive engine market. Sun acquired Walbro in 2007 from TI Automotive. The investment came from Sun’s fourth fund.
Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that its affiliated portfolio company Walbro Engine Management (“Walbro” or the “Company”), a global manufacturer of air and fuel management and ignition systems for the non-automotive engine market, has been acquired by The Carlyle Group (NASDAQ: CG). Terms of the transaction were not disclosed.
A Sun Capital affiliate acquired Tucson, Arizona-based Walbro in March 2007 as part of a corporate carve-out from TI Automotive. Following the acquisition, Sun Capital supported the company’s investment of over $35 million in capital projects including development of new technologies for multi-layer fuel tanks and innovative electronic engine management products that help customers adapt to heightened Environmental Protection Agency evaporative emission regulations.
“This transaction represents Sun Capital’s seventh successful exit of a portfolio company in 2012,” said Marc Leder at Sun Capital Partners. “Walbro is a recognized leader in advancing technology in the carburetor and fuel management industry with market-leading positions in North America, Europe and Asia, and is well positioned for growth in emerging markets.”
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 300 companies worldwide with combined sales in excess of $45 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.