The Resolute Fund, an affiliate of The Jordan Company, has partnered with the management team of Sequa Automotive Group to purchase the business from its parent company, Sequa Corporation, an industrial company with operations in aerospace and metal coatings. Financial terms of the transaction were not disclosed.
The Resolute Fund II SIE, L.P., an affiliate of The Jordan Company, today announced that it has partnered with the management team of Sequa Automotive Group (the “Company” or “Sequa Auto”) to purchase the business from its parent company, Sequa Corporation, a diversified industrial company with operations in aerospace and metal coatings. Financial terms of the transaction were not disclosed.
Sequa Auto is a leading global supplier of highly engineered automotive components. The Company operates under two business segments: Casco Products Corp (“Casco”) and ARC Automotive (“ARC”). Casco is a leading supplier of automotive power outlets, connectivity devices and sensors. ARC is a leading independent provider of airbag inflators, the critical component in a passive airbag system that causes the airbag to deploy in a vehicle.
“Sequa Auto is a market leader with exciting growth prospects that has built strong global customer relationships over time based on its superior service, engineering capability, reliability and innovative products,” said Jonathan F. Boucher, a Managing Principal at Jordan. “We look forward to partnering with Sequa Auto’s exceptional management team to continue to grow the business, strengthen its market presence and enhance its industry-leading operating capabilities.”
“Jordan is widely respected as a long term investor and builder of businesses, and will bring both financial and operating resources to our Company which will help us to continue to grow organically and through acquisitions to better serve our customers,” said Ali El-Haj, Chief Executive Officer of Sequa Auto. “We look forward to partnering with Jordan to achieve our strategic growth objectives and continue to provide our customers with the service and high-quality products that they have come to expect.”
Mayer Brown LLP acted as legal advisor to The Jordan Company.
About Sequa Auto
Sequa Auto is a leading global supplier of niche and highly-engineered automotive components. Sequa Auto operates under two business segments: ARC Automotive (“ARC”) and Casco Products Corp. (“Casco”). ARC is a leading independent provider of airbag inflators for use in driver, passenger, side-impact and curtain modules. Casco is the world’s leading supplier of automotive power outlets and connectivity devices as well as select automotive sensors. Sequa Auto’s blue chip customer base is comprised of the world’s leading automotive original equipment manufacturers and Tier I automotive suppliers. Sequa Auto is headquartered in Bridgeport, CT and has approximately 2,900 employees. For additional information, please refer to the ARC and Casco websites: www.arcautomotive.com www.cascoproducts.com
About The Jordan Company
The Jordan Company (www.thejordancompany.com) founded in 1982, is a middle-market private equity firm with over $5 billion of committed capital assets under management and a 30-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The senior investment team has been investing together for over 20 years and they are supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, The Jordan Company also has offices in Chicago and Shanghai.