Argonaut Private Equity and Hall Capital have acquired JAC Products from Wynnchurch Capital. No financial terms were disclosed. Quarton International served as the exclusive financial adviser to JAC and Wynnchurch on the transaction. Based outside of Detroit, JAC is a provider of roof rack systems and cargo management products to major original equipment manufacturers in the automotive industry.
ROSEMONT, Ill.–(BUSINESS WIRE)–Wynnchurch Capital (“Wynnchurch”), a leading middle market private equity firm announced that it has completed the sale of JAC Products, Inc. (“JAC” or the “Company”) to Argonaut Private Equity and Hall Capital.
Headquartered just outside of Detroit, JAC is the leading global supplier of roof rack systems and cargo management products to major original equipment manufacturers (“OEMs”) in the automotive industry. JAC offers a broad array of patented, proprietary products that are utilized on over 110 platforms globally. Wynnchurch acquired JAC in December of 2010.
Ian Kirson, Partner at Wynnchurch, stated, “We are thankful to have partnered with a world class management team to capitalize on JAC’s leading market position and drive significant operational improvement. These efforts significantly increased earnings and allowed us to realize an outstanding return for our investors. It is satisfying to see our combined efforts produce a Company that is the clear industry thought leader and is well positioned to enter its next phase of growth.”
“Since Wynnchurch acquired the Company in 2010, JAC has gone through a multi-year transformation. The senior management team, with assistance from Wynnchurch, has taken steps to improve the business including developing a culture of transparency, problem solving and continuous improvement, increasing profitability through the elimination of waste and improving productivity, and focusing the Company on customer quality and product innovation,” said Mike Wood, JAC’s CEO.
Quarton International acted as the exclusive financial advisor to JAC and Wynnchurch. Honigman Miller Schwartz and Cohn LLP and Kirkland & Ellis LLP acted as legal advisors to JAC and Wynnchurch in the sale process.
About JAC Products:
JAC Products is a designer and manufacturer of a broad portfolio of highly engineered roof racks, cargo management systems, assist steps and other related functional components to automotive OEMs worldwide. JAC’s diverse material expertise across aluminum, plastic and steel products, coupled with its extensive manufacturing capabilities in extruded, molded and roll-formed components has differentiated the Company from its competitors. JAC operates manufacturing facilities across North America, Europe and Asia. For more information, please visit: www.jacproducts.com.
About Wynnchurch Capital:
Wynnchurch Capital, LLC, headquartered in the Chicago suburb of Rosemont, Illinois, with offices in California and Canada, was founded in 1999, and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch Capital manages a number of private equity funds with $2.3 billion of capital under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs and restructurings. For more information, please visit: www.wynnchurch.com.