Business Development Asia LLC and its partner William Blair & Company acted as exclusive financial advisors to CoActive Technologies, a portfolio company of Littlejohn & Co. and CITIC Capital Partners, in connection with the sale of CoActive Technologies’ business unit DeltaTech Controls, to Sensata Technologies Holding N.V. (NYSE: ST) for US$190m. William Blair advised CoActive Technologies on the transaction in conjunction with its Asian affiliate, Business Development Asia LLC (BDA). The transaction closed on August 4th, 2014.
Transaction Highlights
• Global execution excellence: William Blair’s and BDA’s proven ability to deliver strong outcomes and hands-on involvement from the senior banking team were crucial in securing the mandate.
• Deep industry expertise: DeltaTech Controls was attracted to William Blair’s and BDA’s extensive knowledge and experience in the industrial technology sector, as well as the firms’ strong global relationships with key strategic and financial acquirers.
• Highly strategic transaction: The acquisition of DeltaTech Controls is highly strategic for Sensata Technologies. DeltaTech Controls is well-aligned with Sensata’s core business and uniquely expands Sensata’s ability to grow content beyond automotive through key new and existing customers in the heavy vehicle and off-road market.
BDA Deal Team
Charles Maynard, Senior Managing Director, Beijing
Euan Rellie, Senior Managing Director, New York
Mark Webster, Managing Director, Shanghai
Ranga Covindassamy, Senior Associate, New York
Alex Ditchfield, Senior Associate, Shanghai
About DeltaTech
DeltaTech Controls is a global leader for advanced operator controls and integrated systems in construction, agriculture, material handling, aerial work platform, motorbike, medical, material handling, and other end-market segments. It serves leading global OEMs in these end markets, providing differentiating next-generation operator controls in mission-critical applications. DeltaTech products improve machine productivity, safety, fuel efficiency, and the overall operator experience. www.deltatechcontrols.com
About Sensata
Sensata Technologies is one of the world’s leading suppliers of sensing, electrical protection, control, and power management solutions with operations and business centers in 11 countries. Sensata’s products improve safety, efficiency, and comfort for millions of people every day in automotive, appliance, aircraft, industrial, military, heavy vehicle, heating, air-conditioning, data, telecommunications, recreational vehicle, and marine applications. www.sensata.com
About BDA
Business Development Asia LLC (“BDA”) is a leader in cross-border investment banking. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. It has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe and Asia. BDA was named Investment Banking Firm of the Year at the ACG Champion’s Awards in 2014. It is headquartered in New York with offices in London, Bahrain, Mumbai, Ho Chi Minh City, Hong Kong, Shanghai, Beijing, Seoul and Tokyo. BDA formed a partnership with William Blair & Company in 2011. BDA carries out its US securities business through BDA Advisors Inc., a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. www.bdapartners.com
For more information regarding this transaction, please contact Charles Maynard in Beijing at +86 10-5737-9028, Euan Rellie in New York at +1 212-265-5300 or Mark Webster in Shanghai at +86 21-5407-5580.