M&A Deal Summary

MANN+HUMMEL Acquires Affinia Group

On August 17, 2015, MANN+HUMMEL acquired automotive company Affinia Group from OMERS Private Equity, Stockwell Capital and The Cypress Group

Acquisition Highlights
  • This is MANN+HUMMEL’s 2nd transaction in the Automotive sector.
  • This is MANN+HUMMEL’s 1st transaction in the United States.
  • This is MANN+HUMMEL’s 1st transaction in Michigan.

M&A Deal Summary

Date 2015-08-17
Target Affinia Group
Sector Automotive
Buyer(s) MANN+HUMMEL
Sellers(s) OMERS Private Equity
Stockwell Capital
The Cypress Group
Deal Type Add-on Acquisition
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Hogan Lovells (Legal)

Target

Affinia Group

Ann Arbor, Michigan, United States
Affinia is a designer, manufacturer and distributor of aftermarket components for passenger car, sport utility vehicles, light, medium and heavy trucks and off-highway vehicles. Affinia's broad range of brake, filtration and chassis products are sold in North America, Europe, South America and Asia.

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Buyer(S) 1

Buyer

MANN+HUMMEL

Ludwigsburg, Germany

Category Company
Founded 1941
Sector Automotive
Employees15,100
DESCRIPTION

The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries.


DEAL STATS #
Overall 3 of 5
Sector (Automotive) 2 of 2
Type (Add-on Acquisition) 3 of 5
State (Michigan) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-17 Vokes-Air Group

Sprockhovel, Germany

Vokes-Air Group is a leading manufacturer and supplier of air filters for use in a variety of commercial applications. With an extensive air filter product range we can select and provide the best performing air filters for you whether you operate a gas turbine, service a commercial building’s air conditioning system, work in a paint spray booth, are installing a hospital operating theatre or work in a semi-conductor clean room.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-24 Tri-Dim Filter

Louisa, Virginia, United States

Tri-Dim Filter is a provider of a full line of HVAC filtration products and services, including air and liquid filtration, heating/air conditioning supplies, clean room filtration, air purification equipment, gas phase filtration and air testing and remediation. Tri-Dim Filter was formed in 1968 and is based in Louisa, Virginia.

Buy -

Seller(S) 3

SELLER

OMERS Private Equity

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 19.8B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

OMERS Private Equity, Inc. is the private equity arm of the Ontario Municipal Employees Retirement System. OMERS invests in buyout, venture, and mezzanine funds as well as makes direct private equity investments in North American companies with and enterprise value of $200 million to 1.5 billion. Target sectors include manufacturing, financial and business services, industrial and consumer products, transportation, and technology. OMERS Private Equity was formed in 1987 and is based in Toronto, Ontario.


DEAL STATS #
Overall 14 of 29
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (Michigan) 1 of 2
Country (United States) 7 of 13
Year (2015) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-10 Sitel Worldwide

Nashville, Tennessee, United States

Sitel Worldwide Corp. is a provider of fully integrated services that include customer care, technical support, sales programs, risk management, retention strategies, customer acquisition, back-office processing and collections and receivables.

Sell $830M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-11 Forefront Dermatology

Manitowoc, Wisconsin, United States

Forefront Dermatology delivers medical dermatology, fully integrated surgery and pathology services through more than 130 clinics across 16 U.S. states. Forefront Dermatology was formed in 1980 and is based in Manitowoc, Wisconsin.

Buy -
SELLER

Stockwell Capital

Austin, Texas, United States

Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stockwell Capital is a co-investment firm, focused on making minority investments alongside private equity sponsors. Stockwell is a generalist investor, with no sector preferences and looks to commit $3 to $10 million per investment. The Firm will consider opportunities throughout the US and Europe and prefers late-stage or growth equity situations. Stockwell Capital was formed in 2002 and is based in Chicago.


DEAL STATS #
Overall 29 of 41
Sector (Automotive) 3 of 3
Type (Add-on Acquisition) 10 of 12
State (Michigan) 3 of 3
Country (United States) 23 of 33
Year (2015) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-26 Icicle Seafoods

Seattle, Washington, United States

Icicle Seafoods, Inc. is a diversified seafood harvesting and processing company. Icicle's core business is the primary processing of seafood including wild salmon, pollock, halibut, cod, sablefish, and herring. Icicle Seafoods was founded in 1965 and is based in Seattle, Washington.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 Weetabix

Kettering, United Kingdom

Weetabix is a manufacturer of cereal and cereal-related products under its own brands and private label, exporting to more than 80 countries and operations in North America, South Africa, Germany and Spain. Weetabix was founded in 1932 and is based in Kettering, United Kingdom.

Sell -
SELLER

The Cypress Group

New York, New York, United States

Category Private Equity Firm
Founded 1989
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Cypress Group is a private equity firm that acquires businesses in a range of industries. Broad sectors of interest include consumer services, financial services, and manufacturing. The Cypress Group was formed in 1989 and is headquartered in New York, New York.


DEAL STATS #
Overall 12 of 12
Sector (Automotive) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Michigan) 1 of 1
Country (United States) 10 of 10
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-05 Financial Guaranty Insurance

New York, New York, United States

FGIC is a bond insurer. Bond insurers guarantee the timely payment of principal and interest, effectively transferring the insurer's credit rating to the issuer, resulting in a lower cost of borrowing for the issuer.

Sell -