AEA Investors LP will acquire Industrial Acoustics Inc., a provider of noise and acoustic control products for aero-engine testing facilities, from MML Capital Partners. Specifics of the transaction were not publicized. Industrial Acoustics is based in the UK. Harris Williams & Co. served as exclusive financial advisor to IAC on this transaction, while Norton Rose acted as legal advisor to MML.
LONDON, ENGLAND, June 2012 – MML Capital Partners LLP, on behalf of itself and its funds under management (“MML”), today announces that it has completed the sale of Industrial Acoustics Inc. (“IAC” or the “Company”) to funds advised by AEA Investors LP (“AEA”).
Under MML’s ownership the Company has established itself as the leading global provider of engineered noise control and acoustic solutions. MML backed IAC through a number of add-on acquisitions, significantly extending its footprint and ability to serve customers globally.
Commenting on the sale, Bal Johal, a Managing Partner at MML who served on the IAC board, said: “MML has enjoyed a successful relationship with IAC, working closely with the management team in developing the Company into the global industry-leader it is today. We wish the team continued success in the future.”
Brian Quarendon, President and CEO of IAC added, “We are grateful to MML for their support in the growth and expansion of the business. They have been an invaluable partner in the success of the Company. We are now looking forward to working with AEA as we move to an exciting stage of growth.”
Headquartered in Winchester, United Kingdom, IAC is a global provider of noise and acoustic control products, structures, test facilities and aero-engine testing solutions for complex and demanding applications, with offices in Europe, North America, Asia-Pacific and Australasia.
MML Capital Partners (www.mmlcapital.com) is a leading pan-European and transatlantic independent investment firm with over $2 billion invested across 11 countries during the last 20 years. In partnership with management teams and key stakeholders, MML provides capital to businesses for expansion/acquisitions, recapitalizations and leveraged and management buyouts. MML has offices in London, Paris, and Stamford, Conn, and is currently investing its fifth fund.
AEA Investors was founded in 1968 by S.G. Warburg & Co and the Rockefeller, Mellon, and Harriman family interests as a private investment vehicle for a select group of family offices, and is one of the most experienced international private equity investment firms in the world. Its investors include former and current CEOs of major multinational corporations, as well as family groups, prominent industrialists and institutions. With offices in London, Munich, New York, Hong Kong and Shanghai, AEA invests with a principal focus in four sectors: value-added industrial products, specialty chemicals, consumer products and business services.
Harris Williams & Co. served as exclusive financial advisor to IAC on this transaction, while Norton Rose acted as legal advisor to MML.