M&A Deal Summary

Park-Ohio Acquires Fluid Routing Solutions

On March 27, 2012, Park-Ohio acquired automotive company Fluid Routing Solutions from Sun Capital Partners for 98M USD

Acquisition Highlights
  • This is Park-Ohio’s 1st transaction in the Automotive sector.
  • This is Park-Ohio’s largest (disclosed) transaction.
  • This is Park-Ohio’s 1st transaction in the United States.
  • This is Park-Ohio’s 1st transaction in Michigan.

M&A Deal Summary
Date 2012-03-27
Target Fluid Routing Solutions
Sector Automotive
Buyer(s) Park-Ohio
Sellers(s) Sun Capital Partners
Deal Type Add-on Acquisition
Deal Value 98M USD
Advisor(s) Angle Advisors LLC (Financial)

Target

Fluid Routing Solutions

Southfield, Michigan, United States
website
Fluid Routing Solutions designs and manufactures innovative, highly-engineered fuel management and fluid handling systems for major OEMs serving customers worldwide. Fuel systems products include fuel filler assemblies, evaporation canisters, and coolant hoses. Fluid handling systems include power steering hose and hose assemblies and transmission oil cooler assemblies. Facilities are located in Florida, Michigan, South Carolina, Tennessee, and Quebec.

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Buyer(S) 1

Buyer

Park-Ohio

Cleveland, Ohio, United States

website

Category Company
Founded 1907
Sector Machinery
Employees6,500
Revenue 1.4B USD (2021)
DESCRIPTION

Park-Ohio is a diversified industrial holding company providing integrated supply chain management services and highly engineered products. Park-Ohio was founded in 1907 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 1 of 10
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 1 of 9
State (Michigan) 1 of 1
Country (United States) 1 of 4
Year (2012) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-01 Bates

Lobelville, Tennessee, United States

Bates is a manufacturer of high quality, tight tolerance automotive hoses and industrial gaskets. The Company’s product offering includes rubber hoses, nylon hoses, thermoplastic tubes, and rubber gaskets. The Company’s manufacturing capabilities include rubber and nylon extrusion, thermoplastic extrusion, thermoplastic injection molding, hose forming, assembly, and testing.

Buy -

Seller(S) 1

SELLER

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 32 of 124
Sector (Automotive) 2 of 3
Type (Add-on Acquisition) 10 of 52
State (Michigan) 2 of 6
Country (United States) 26 of 87
Year (2012) 4 of 10
Size (of disclosed) 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-05 Raybestos PowerTrain

Crawfordsville, Indiana, United States

Raybestos PowerTrain, LLC is a developer, manufacturer and supplier of specialty-engineered friction and energy absorption components for wet friction applications for automotive transmission and brake components for the aftermarket.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-30 Sonneborn

Parsippany, New Jersey, United States

Sonneborn LLC is a provider of white oils, petrolatums, waxes, and other hydrocarbon specialty products such as creams and lotions, cosmetics, and pharmaceutical ointments. Sonneborn is based in Parsippany, New Jersey.

Sell -
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