Secondary Buyout • Automotive

BDT & MSD Partners Acquires Clarience Technologies

On September 25, 2015, merchant bank BDT & MSD Partners acquired automotive company Clarience Technologies from Kelso

Acquisition Context
  • This is BDT & MSD Partners’ 1st transaction in the Automotive sector.
  • This is BDT & MSD Partners’ 3rd transaction in the United States.
  • This is BDT & MSD Partners’ 1st transaction in Michigan.
Investment Fate
  • Clarience Technologies was sold to a consortium of financial buyers in 2019.

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M&A Deal Summary

Date September 25, 2015
Target Clarience Technologies
Sector Automotive
Buyer(s) BDT & MSD Partners
Sellers(s) Kelso
Deal Type Secondary Buyout
Advisor(s) Baird (Financial)
Debevoise & Plimpton (Legal)

Target Company

Clarience Technologies

Southfield, Michigan, United States
Clarience Technologies is a producer of forward and safety lighting, wiring harnesses, turn signal switches and safety accessories for the medium- and heavy-duty truck, trailer and commercial vehicle industries. The company also designs and manufactures Road Ready® telematics systems for heavy- and light-duty trailers and off-road industrial usage; fuel filtration and water separation systems; and rugged LED lighting for the off-road and marine industries. Clarience Technologies was founded in 1955 and is based in Southfield, Michigan.
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Buyer Overview 1

Buyer

BDT & MSD Partners


Category Merchant Bank
Founded 2009
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

BDT Capital Partners provides family-owned and entrepreneurially led companies with long-term, differentiated equity capital. BDT Capital Partners is an affiliate of merchant bank BDT & Company. The Firm is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 3 of 19
Sector: Automotive 1 of 2
Type: Secondary Buyout 2 of 9
State: Michigan 1 of 1
Country: United States 3 of 15
Year: 2015 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-06 Alliance Laundry

Ripon, Wisconsin, United States

Alliance Laundry is a manufacturer of stand-alone commercial laundry equipment in North America. It produces a full line of washing machines, dryers, and pressing machines under the brand names of Speed Queen, UniMac, Huebsch and Ajax. Alliance Laundry Systems was founded in 1908 and is based in Ripon, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-29 ProMach

Covington, Kentucky, United States

ProMach is a provider of complete packaging machinery solutions, engineering and integration services, and related aftermarket products and services. ProMach brands operate across the entire packaging spectrum: filling and capping, flexibles, pharma, product handling, labeling and coding, and end of line. ProMach also provides Performance Services including integrated solutions, design/build, engineering services, and productivity software to optimize packaging line design and deliver maximum uptime. ProMach was founded in 1998 and is based in Covington, Kentucky.

Buy -

Seller Profile 1

SELLER

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


Deal Context for Seller #
Overall 29 of 54
Sector: Automotive 1 of 2
Type: Secondary Buyout 6 of 12
State: Michigan 1 of 1
Country: United States 24 of 47
Year: 2015 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-03 Sirius

San Antonio, Texas, United States

Sirius is a privately held, leading national solutions integrator focused on helping organizations transform their business by managing their operations, optimizing their IT, and securing it all. Sirius was founded in 1980 and is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-20 Risk Strategies

Boston, Massachusetts, United States

Risk Strategies is a national brokerage firm focused on delivering risk management and insurance solutions toprivately-held and publicly-traded commercial clients and high net worth individuals. Risk Strategies focuses on client risk management challenges and delivers pragmatic, costeffective financial and business solutions. Risk Strategies was founded in 1997 and is based in Boston, Massachusetts.

Buy -