Add-on Acquisition • Automotive

Clarion Technologies Acquires CNI Enterprises

On January 25, 2019, Clarion Technologies acquired automotive company CNI Enterprises from Clearlake Capital

Acquisition Context
  • This is Clarion Technologies’ 1st transaction in the Automotive sector.
  • This is Clarion Technologies’ 2nd transaction in the United States.
  • This is Clarion Technologies’ 1st transaction in Michigan.

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M&A Deal Summary

Date January 25, 2019
Target CNI Enterprises
Sector Automotive
Buyer(s) Clarion Technologies
Sellers(s) Clearlake Capital
Deal Type Add-on Acquisition

Target Company

CNI Enterprises

Madison Heights, Michigan, United States
CNI Enterprises is a manufacturer of quality interior trim products for the automotive industry. CNI provides customers with various interior trim components specializing in seat backs, cut and sew, and small parts assembly.
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Buyer Overview 1

Buyer

Clarion Technologies

Holland, Michigan, United States

Category Company
Founded 1988
Sector Plastics
Employees800
DESCRIPTION

Clarion Technologies, Inc. is a supplier of injection molded plastic parts to customers in three primary industries: consumer goods and appliances, automotive and office furniture. In each of these markets, Clarion aims to serve large customers with multi-year programs. Sales efforts in Clarion’s consumer and appliance are generally aimed at OEMs such as Frigidaire, Maytag, and American Yard Products.


Deal Context for Buyer #
Overall 2 of 2
Sector: Automotive 1 of 1
Type: Add-on Acquisition 1 of 1
State: Michigan 1 of 1
Country: United States 2 of 2
Year: 2019 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-09 GTM Plastics

Garland, Texas, United States

GTM was founded in 1964 as Garland Tooling & Machining Co. The company provides thermoplastic injection molding and tool making and contract manufacturing services and serves markets like HVAC, flow control valves, and sporting goods. GTM’s quality system is registered under the ISO 9001-2008 standard.

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Seller Profile 1

SELLER

Clearlake Capital

Santa Monica, California, United States

Category Private Equity Firm
Founded 2006
PE ASSETS 90.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

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


Deal Context for Seller #
Overall 25 of 39
Sector: Automotive 3 of 4
Type: Add-on Acquisition 8 of 14
State: Michigan 1 of 1
Country: United States 23 of 36
Year: 2019 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-14 Jacuzzi

Irvine, California, United States

Jacuzzi is a global manufacturer of premium spas, swim spas, whirlpool, soaker and walk-in bathtubs and related bathroom products and accessories. The Company believes that ‘when we feel good, we live a better life.’ The Company operates under multiple brands, including Jacuzzi, Sundance, Dimension One Spas, Hydropool, ThermoSpas, and BathWraps. The Company’s flagship brand, Jacuzzi, is the most recognized in the world for spa and hydrotherapy bathing. Jacuzzi was founded in 1956 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-09 Bamboo Health

Louisville, Kentucky, United States

Bamboo Health is a healthcare technology solutions company, focused on fostering care collaboration and providing information and actionable insights to facilitate physical and behavioral health across the entire continuum of care. Bamboo Health is based in Louisville, Kentucky.

Buy -