M&A Deal Summary

Aviation Industry of China Acquires Henniges Automotive

On September 9, 2015, Aviation Industry of China acquired automotive company Henniges Automotive from Littlejohn and Trustar Capital

Acquisition Highlights
  • This is Aviation Industry of China’s 1st transaction in the Automotive sector.
  • This is Aviation Industry of China’s 1st transaction in the United States.
  • This is Aviation Industry of China’s 1st transaction in Michigan.

M&A Deal Summary

Date 2015-09-09
Target Henniges Automotive
Sector Automotive
Buyer(s) Aviation Industry of China
Sellers(s) Littlejohn
Trustar Capital
Deal Type Add-on Acquisition

Target

Henniges Automotive

Auburn Hills, Michigan, United States
Henniges Automotive, Inc. is a designer, manufacturer and seller of a complete line of highly engineered sealing and anti-vibration systems for automotive applications systems for doors, windows, trunks, lift-gates, sunroofs and hoods.

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Buyer(S) 1

Buyer

Aviation Industry of China

Beijing, China

Category Company
Founded 2008
Sector Aerospace
DESCRIPTION

Aviation Industry Corporation of China is a provider of aerospace products.


DEAL STATS #
Overall 1 of 1
Sector: Automotive M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2015 M&A 1 of 1

Seller(S) 2

SELLER

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 24 of 50
Sector: Automotive M&A 3 of 4
Type: Add-on Acquisition M&A Deals 11 of 22
State: Michigan M&A 1 of 1
Country: United States M&A 20 of 46
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-07 Latham Group

Latham, New York, United States

Latham Group is a manufacturer of pool components and accessories in North America. The Company’s product offering includes in-ground vinyl pool liners, above-ground vinyl pool liners, polymer and steel pool wall systems, fiberglass pools, steps and ladders, pool safety covers, and other pool related accessories. Latham Group was founded in 1956 and is based in Latham, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-11 HBC Home & Hardware Products

Cranbury, New Jersey, United States

Howard Berger Co. is a provider of a broad selection of hardware and housewares-related products to a variety of retailers and wholesalers in North America. With revenue of approximately $210 million, the Company is a critical link in the supply chain for both large and small retailers and wholesalers which don't have the infrastructure, scale or expertise to manage a large variety of SKUs on a just in time basis.

Sell -
SELLER

Trustar Capital

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 8.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trustar Capital is the private equity arm of financial services/asset manager CITIC Group. Trustar Capital separates its private equity investment activity into three groups; China, Japan, and the US. In general, Trustar looks to invest in companies with 'strong franchises', with established brands and high barriers to entry. For US-based opportunities, the firm looks to leverage its connections in China. Broad areas of interest include niche manufacturing, consumer products, and business services. The Firm does not invest in start-ups or distressed businesses. Trustar Capital is based in Hong Kong.


DEAL STATS #
Overall 9 of 28
Sector: Automotive M&A 1 of 1
Type: Add-on Acquisition M&A Deals 7 of 12
State: Michigan M&A 1 of 1
Country: United States M&A 4 of 8
Year: 2015 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-11 Stackpole International

Ancaster, Ontario, Canada

Stackpole International, Inc. is a manufacturer and sole source supplier of highly-engineered oil pumps and powdered metal components to automotive original equipment manufacturers.

Sell CA$867M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-20 Akakura

Tokyo, Japan

Akakura is engaging in the design and retailing of women footwear, selling through its directly-owned stores and website nationwide. Akakura is based in Tokyo, Japan.

Buy -