M&A Deal Summary

OMERS Private Equity, Stockwell Capital and The Cypress Group Acquire Affinia Group

On December 6, 2004, private equity firms OMERS Private Equity, Stockwell Capital and The Cypress Group acquired automotive company Affinia Group from Dana for 1.0B USD

Acquisition Highlights
  • This is OMERS Private Equity’s 1st, Stockwell Capital’s 3rd and The Cypress Group’s 1st transaction in the Automotive sector.
  • This is OMERS Private Equity’s 7th, Stockwell Capital’s 21st and The Cypress Group’s 4th largest (disclosed) transaction.
  • This is OMERS Private Equity’s 2nd, Stockwell Capital’s 9th and The Cypress Group’s 8th transaction in the United States.
  • This is OMERS Private Equity’s 1st, Stockwell Capital’s 4th and The Cypress Group’s 1st transaction in Michigan.
Investment Fate
  • Affinia Group was sold to a strategic buyer in 2015.

M&A Deal Summary
Date 2004-12-06
Target Affinia Group
Sector Automotive
Buyer(s) OMERS Private Equity
Stockwell Capital
The Cypress Group
Sellers(s) Dana
Deal Type Divestiture
Deal Value 1.0B USD

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) 3

Buyer

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 4 of 55
Sector (Automotive) 1 of 2
Type (Divestiture) 1 of 3
State (Michigan) 1 of 2
Country (United States) 2 of 28
Year (2004) 2 of 2
Size (of disclosed) 7 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-15 Cookie Jar Entertainment

Toronto, Ontario, Canada

Cookie Jar Group of Companies (formerly CINAR) develops, produces, markets and distributes high-quality, non-violent programming and supplemental educational products for children, families and educators worldwide.

Buy $144M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Cari-All Group

Montreal, Quebec, Canada

Cari-All Group Inc. is one of North America's leading manufacturers and distributors of retail shopping carts and shelving. The business operates under three brands: Cari-all Products Inc., Technibilt Ltd., and Rondi Industries Inc.

Buy -
Buyer

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 11 of 44
Sector (Automotive) 3 of 3
Type (Divestiture) 2 of 3
State (Michigan) 4 of 4
Country (United States) 9 of 35
Year (2004) 7 of 7
Size (of disclosed) 21 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-01 Regency Gas Services

Dallas, Texas, United States

Regency Gas Services was led by a team of industry executives assembled by Charlesbank. The company purchased and operated 2,900 miles of natural gas gathering, processing and pipeline assets in Colorado, Kansas, Louisiana, Oklahoma and Texas

Sell $405M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-21 Celanese

Irving, Texas, United States

Celanese is a global technology and specialty materials company. Celanese producer of acetyl products for nearly all major industries, as well as a global producer of high-performance engineered polymers that are used in a variety of high-value applications. The Company's product portfolio serves a diverse set of end-use applications including paints and coatings, textiles, automotive applications, consumer and medical applications, performance industrial applications, filtration applications, paper and packaging, chemical additives, construction, consumer and industrial adhesives, and food and beverage applications. Celanese was incorporated in 1918 and is based in Irving, Texas.

Sell -
Buyer

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 11 of 12
Sector (Automotive) 1 of 1
Type (Divestiture) 2 of 2
State (Michigan) 1 of 1
Country (United States) 8 of 9
Year (2004) 3 of 3
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Catlin Group

Hamilton, Bermuda

Catlin Group Ltd. is a specialty insurance and reinsurance provider . Areas of expertise include Marine, Professional Indemnity, Aviation, Energy, and Industrial. Catlin's property catastrophe reinsurance and marine businesses are viewed as 'Best in Class' at Lloyd's.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-20 Williams Scotsman

Baltimore, Maryland, United States

Williams Scotsman providers of mobile and modular office space, serving more than 24,000 customers through over 90 offices in the United States, Canada, and Mexico. Williams Scotsman was founded in 1955 and is based in Baltimore, Maryland.

Sell -

Seller(S) 1

SELLER

Dana

Maumee, Ohio, United States
Category Company
Founded 1904
Sector Automotive
Employees42,000
Revenue 10.6B USD (2023)
DESCRIPTION
Entrance to Dana's corporate headquarters in Maumee, Ohio.
Entrance to Dana's corporate headquarters in Maumee, Ohio.

Dana is a global provider of high technology driveline (axles, driveshafts and transmissions), sealing and thermal-management products. The Company's customer base includes virtually every major vehicle manufacturer in the global light vehicle, medium/heavy vehicle and off-highway markets. Dana was incorporated 1904 and is based in Maumee, Ohio.

DEAL STATS #
Overall 2 of 4
Sector (Automotive) 1 of 3
Type (Divestiture) 2 of 4
State (Michigan) 1 of 1
Country (United States) 2 of 4
Year (2004) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-03 Dana Gresen Hydraulic

Greenville, South Carolina, United States

Gresen manufactures a wide range of hydraulic pumps, motors, cylinders, control valves, filters and electronic controls for on- and off-highway vehicles.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-16 The Dana Holding - Structural Components Business

Maumee, Ohio, United States

The Dana Holding Corp. - Structural Components Business includes 9 Dana manufacturing facilities that produce structural components for chassis and body structures in light and commercial vehicles, including accompanying administrative, technical and sales centers in Argentina, Australia, Brazil and the USA.

Sell -
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