Clearlake Capital Group has acquired Madison Heights, Michigan-based CNI Enterprises, a maker of interior trim products for the automotive sector. No financial terms were disclosed.
Santa Monica, CA – June 25, 2015 – Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced that it has sponsored the acquisition of CNI Enterprises, Inc. (“CNI”), a provider of interior components to major North American original equipment manufacturers (OEMs) and tier one suppliers, through one of its fund portfolio companies. Terms were not disclosed.
Headquartered in Madison Heights, Michigan, and with manufacturing plants strategically located in Michigan and Acuna, Mexico, CNI produces interior components such as seat back panels, door inserts, arm rests, head rests, seat covers and other interior trim products. CNI will continue to be led by its President, Jorge Morales.
CNI is part of a growing portfolio of automotive investments by Clearlake, which includes Futuris Global Holdings and Sage Automotive Interiors. Going forward, CNI will operate under the Futuris portfolio of businesses as it continues to expand as an integrated seating and interiors system provider to leading global OEMs.
José E. Feliciano, managing partner at Clearlake said, “With the acquisition of CNI, we have partnered with a company with a highly experienced team and a strong manufacturing footprint in North America that counts many of the major auto OEMs as long-term customers. Clearlake looks forward to supporting CNI as it continues its exciting path of strategic growth.”
“Clearlake’s strategic support will help us expand further and faster than we could independently,” said CNI’s Jorge Morales. “We look forward to working with the Clearlake team and their portfolio companies in the automotive interiors segment to leverage our collective strengths and relationships in order to expand our ability to meet customer demands worldwide.”
CNI Enterprises, Inc. is a manufacturer of quality interior trim products for the automotive industry. CNI provides customers with various interior trim components specializing in seat backs, cut and sew, and small parts assembly. CNI is a single “one stop shop” for interior trim parts. A world class supplier of automotive interior trim parts, CNI is dedicated to meeting our customer’s requirements. To support our customers, CNI manufactures parts in geographically desirable locations both in the United States as well as in Mexico.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational and strategic expertise. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $2.3 billion of assets under management.
More information is available at www.clearlakecapital.com.