Divestiture • Automotive

Hancock Park Associates Acquires ASC - Convertible & Design Units

On May 4, 2007, private equity firm Hancock Park Associates acquired automotive company ASC - Convertible & Design Units from ASC

Acquisition Context
  • This is Hancock Park Associates’ 1st transaction in the Automotive sector.
  • This is Hancock Park Associates’ 7th transaction in the United States.
  • This is Hancock Park Associates’ 1st transaction in Michigan.

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M&A Deal Summary

Date May 4, 2007
Target ASC - Convertible & Design Units
Sector Automotive
Buyer(s) Hancock Park Associates
Sellers(s) ASC
Deal Type Divestiture

Target Company

ASC - Convertible & Design Units

Warren, Michigan, United States
ASC, Inc. - Convertible & Design Units includes automotive "open air" roof-systems unit and the automotive design-services unit.
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Buyer Overview 1

Buyer

Hancock Park Associates

Los Angeles, California, United States

Category Private Equity Firm
Founded 1986
PE ASSETS 412M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Hancock Park Associates (HPA) is a private equity firm that targets control investments in small to middle-market companies. HPA seeks to acquire interests in companies with annual revenues between $25 and $200 million and EBITDA between $2 and $20 million. HPA will consider opportunities across a range of industries with a preference for businesses involved in manufacturing and specialty retailing. HPA looks to invest $5 to $25 million per transaction. Hancock takes an active approach in managing each business to maximize value. Hancock Park was formed in 1986 and has offices in Los Angeles, California and Houston, Texas.


Deal Context for Buyer #
Overall 7 of 11
Sector: Automotive 1 of 1
Type: Divestiture 1 of 1
State: Michigan 1 of 1
Country: United States 7 of 11
Year: 2007 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-31 Advent Aerospace

Rye, New Hampshire, United States

Advent Aerospace, Inc. provides engineered products and services to aircraft OEMs, major subcontractors, modification centers and aircraft owners and operators in the corporate, commercial, and government aviation markets. Advent Aerospace was founded in 2006 and is based in Rye, New Hampshire.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-31 Drilltec

Houston, Texas, United States

Drilltec is a manufacturer of thread protectors and protective systems for the Oil Country Tubular Goods market. Drilltec was founded in 1979 and is based in Houston, Texas.

Buy -

Seller Profile 1

SELLER

ASC

Southgate, Michigan, United States

Category Company
Sector Automotive
DESCRIPTION

ASC, Inc. is a specialty vehicle and systems company providing specialty vehicle design, engineering, prototype and production services; development and delivery of open-air systems, composite products and exterior trim; and development and distribution of aftermarket vehicle accessories.


Deal Context for Seller #
Overall 1 of 1
Sector: Automotive 1 of 1
Type: Divestiture 1 of 1
State: Michigan 1 of 1
Country: United States 1 of 1
Year: 2007 1 of 1