BDA advises Carlyle on the sale of Walbro
Divested Walbro to Landon Capital & Nova Capital
BDA Partners is pleased to announce that its client, The Carlyle Group, has sold Walbro Co Ltd to an investment vehicle held by Landon Capital Partners LLC and Nova Capital Management Ltd. BDA was the exclusive financial advisor to Carlyle on the transaction. Terms of the transaction were not disclosed.
Walbro is a global market leader in engine management and fuel system solutions for the Outdoor Power Equipment, Recreational, Marine, and Personal Transportation markets with facilities in the United States, Japan, Mexico, Thailand, and China.
Walbro is a global market leader in the manufacture of engine management and fuel systems for the Lawn & Garden, Recreation & Marine and Ground Support markets, with operations in the United States, Japan, Mexico, Thailand and China, with over 2300 employees. Walbro supplies multi-layer fuel storage and combustion technologies to meet stringent environmental requirements. Walbro was founded in Michigan in 1950 and is headquartered in Virginia. www.walbro.com
About Landon Capital Partners
Landon Capital Partners (“LCP”) is the direct private equity investment group of the Landon family and its select family office co-investment partners. LCP invests in middle market private equity opportunities primarily in the United States. Landon’s mission is to source, acquire, and manage lower middle market private equity buyouts, targeting opportunities for control equity positions in companies with $5 to $20 million of EBITDA. Preferred LCP investment targets display a high percentage of recurring revenue and strong free cash flow conversion and seek to leverage LCP’s flexible approach to partnership and long-term growth orientation. LCP began operations in 2015 and has offices in Boston and London. www.landoncapital.com
About Nova Capital Management
Nova Capital Management is a pioneer in portfolio buy-outs, specializing in acquiring multiple businesses in a single transaction from corporate or financial sellers. Since its foundation in 2002, Nova has executed international transactions with a value of over $1.7bn from offices in London and Chicago and managed, and successfully exited, investments in over 75 portfolio companies.
The Walbro acquisition continues a busy year for Nova, including the exits of Canadian building products distributor NCA and the US cabinet hardware business, Amerock, as well as the recently announced acquisition of HRS Heat Exchangers by Nova’s portfolio company Exchanger Industries Ltd. These businesses are market leaders in their served markets, and represent a wide range of industry sectors and geographic presence. www.nova-cap.com
About The Carlyle Group
The Carlyle Group Inc (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $276 billion of assets under management as of June 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which the firm lives and invests. Carlyle employs 1,800 people in 27 offices across five continents. www.carlyle.com.
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.
US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com
Divested Doosan Mecatec to a consortium of Bumhan Industries and Metistone
Acquired by Indorama Ventures
Divested Isuzu Glass to Basic Capital Management
Divested Toshiba Transmission & Distribution Europe to Mutares
Acquired NEC Energy Solutions from NEC Corporation
Divested ASG Print to GPA Global and EQT
Divested Doosan E&C to a private equity consortium
Divested PCI Limited to Celestica Inc
Divested India business to IMC Swarnaa Ventures Pvt Ltd
Divested majority stake in STS Group to Adler Pelzer Group
Divested 100% stake to a leading European water company
Divested 70% stake to SCG Packaging
Divested Compart Systems to Shanghai Wanye Enterprises
Established JV with Superior Essex
Divested ThiPha Cable and Dovina to Stark Corporation
Divested Nagano Industry to JAFCO
Divested Nippon Oil Pump to CITIC Capital
Divested Parador to HIL Limited
Divested its 49% stake in Mitsubishi Motors Philippines
Divested 80% stake to JKL Partners