M&A Deal Summary

Asahi Kasei Acquires Sage Automotive Interiors

On July 19, 2018, Asahi Kasei Corp. acquired automotive company Sage Automotive Interiors, Inc. from Clearlake Capital Group for 1.1B USD

Acquisition Highlights
  • This is Asahi Kasei’s 1st transaction in the Automotive sector.
  • This is Asahi Kasei’s 3rd largest (disclosed) transaction.
  • This is Asahi Kasei’s 3rd transaction in the United States.
  • This is Asahi Kasei’s 1st transaction in South Carolina.

M&A Deal Summary

Date 2018-07-19
Target Sage Automotive Interiors, Inc.
Sector Automotive
Buyer(s) Asahi Kasei Corp.
Sellers(s) Clearlake Capital Group
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

Sage Automotive Interiors, Inc.

Greenville, South Carolina, United States
website
Sage Automotive Interiors, Inc. is a provider of an automotive bodycloth, including a range of knit and woven technical textiles, to many of the world's leading automobile manufacturers. Sage has global offices and manufacturing locations in the U.S., Brazil, United Kingdom, China, Korea and Japan and has contract manufacturing relationships worldwide.

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Buyer(S) 1

Buyer

Asahi Kasei Corp.

Tokyo, Japan

website


Category Company
Founded 1922
SectorChemicals
Employees40,689
Revenue 2,151.6B JPY (2020)
DESCRIPTION

Asahi Kasei Corp. provides chemicals Segment offers organic and inorganic industrial chemicals, synthetic resin, synthetic rubber, high-compound fertilizer, coating materials, latex, pharmaceutical and food additives, explosives, photopolymers and platemaking systems, separation and ion-exchange membranes, systems, and equipment. Asahi Kasei was founded in 1922 and is based in Tokyo, Japan.


DEAL STATS #
Overall 3 of 5
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (South Carolina) 1 of 1
Country (United States) 3 of 5
Year (2018) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 Polypore International, Inc.

Charlotte, North Carolina, United States

Polypore International, Inc. is a global manufacturer of highly engineered filtration products used in the power storage, healthcare, electronics and specialty technology industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 Erickson Construction Co., Inc.

Chandler, Arizona, United States

Erickson Construction Co., Inc. is a construction services and pre-fabricated building products company. It provides turnkey framing services, framing packages, trusses, and other products to builders and developers. Erickson Construction Co., Inc. was founded in 1975 and is based in Chandler, Arizona.

Buy -

Seller(S) 1

SELLER

Clearlake Capital Group

Santa Monica, California, United States

website


Category Private Equity Firm
Founded 2006
PE ASSETS 25.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Clearlake Capital Group is a private equity firm focuses on corporate divestitures, recapitalizations, buyouts, restructurings, rescue financing, growth capital, turnarounds and other equity investments. Clearlake’s seeks to partner with strong management teams by providing long-term capital and operational expertise. Areas of interest include business services, communication, media, energy and power, healthcare, manufacturing, retail, consumer and technology services. Clearlake Capital Group was formed in 2006 and is based in Santa Monica, California.


DEAL STATS #
Overall 19 of 24
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 7 of 9
State (South Carolina) 1 of 1
Country (United States) 18 of 22
Year (2018) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-10 Wheel Pros, Inc.

Lakewood, Colorado, United States

Wheel Pros is a provider of branded custom wheels, performance tires, and related accessories for cars, SUVs, and light trucks. Wheel Pros was founded in 1994 and is based in Lakewood, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-26 American Construction Source

Springfield, Missouri, United States

American Construction Source is an LBM distributor with 70+ locations in nine states serving the needs of custom home builders, repair & remodel contractors, and DIY consumers. ACS provides lumber and building materials businesses the resources, leverage, and focus to make their ideas happen. American Construction Source was founded in 2018 and is based in Springfield, Missouri.

Buy -