GTCR has closed its previously announced acquisition of St. Louis, Missouri-based EaglePicher Technologies, a provider of power solutions for customers in the defense, aerospace and medical end markets. The seller was Vectra, a portfolio company of Apollo Global Management LLC. No financial terms were disclosed. Goldman Sachs provided financial advice to Vectra on the deal.
ST. LOUIS, March 9, 2018 /PRNewswire/ — Vectra Co. (“Vectra”), a portfolio company owned by certain investment funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) and a leading technology-driven diversified company, announced today that it has completed the sale of its EaglePicher Technologies business to affiliates of GTCR LLC (“GTCR”), a leading private equity firm with over $13 billion in assets under management.
EaglePicher Technologies is a leader in providing advanced power and energy solutions for mission-critical applications with over 170 years of materials and electrochemistry expertise. EaglePicher Technologies is focused on specialized applications within high growth areas of defense, aerospace and medical products. The transaction was structured as a merger of Vectra Co., the parent company of EaglePicher Technologies. Terms of the agreement were not disclosed. Vacuumschmelze, Vectra’s magnetic technologies business, was separated immediately prior to the closing and continues to be owned by funds managed by affiliates of Apollo Global Management, LLC.
“The EaglePicher Technologies business is well positioned to continue its strong growth trajectory driven by innovation, quality and its mission-critical products. With the closure of the Vectra/EaglePicher Technologies sale, we have achieved a significant milestone in our efforts to maximize the value of the Vectra portfolio of businesses. We are excited by the future growth opportunities that are available to our Vacuumschmelze business unit,” said Jim Voss, Vectra’s CEO.
“We are excited to commence our partnership with GTCR, and look forward to leveraging their strategic insight and support to continue to implement our growth and innovation strategy,” said Gordon Walker, EaglePicher Technologies’ President.
Financial advisor to Vectra was Goldman Sachs & Co. and legal advisors to Vectra were Paul, Weiss, Rifkind, Wharton & Garrison LLP and O’Melveny & Myers LLP (with respect to environmental matters).
About Vectra Co.
VECTRA is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace and defense, industrial and medical. Its business platforms use technology to address customers’ complex applications and demanding requirements. For more information, visit Vectra’s website at www.vectraco.com
About Apollo Global Management, LLC
APOLLO is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management (AUM) of approximately $249 billion as of December 31, 2017 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $13 billion in over 200 companies. For more information, please visit www.gtcr.com.