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Angeles Equity acquires U.G.N's auto acoustic business
08
Feb '16
Angeles Equity Partners, LLC, a private investment firm focused on value creation through operational transformation, has acquired, through an affiliated entity, U.G.N., Inc.'s automotive acoustic solutions business based in Chicago Heights, IL.

U.G.N. Inc. (UGN) is a joint venture between Autoneum Holding AG and Nihon Tokushu Toryo.

The business, which will operate under the name Applied Acoustics International (AAI), is a Tier 1 provider of sound barrier and noise damping products to the North American automotive industry. Financial terms of the deal were not disclosed. AAI will continue to supply noise, vibration and harshness reduction products to UGN under a long term supply agreement; and UGN will provide transition support to AAI under a transition services agreement, according to a press release.

Jordan Katz, co-founder and managing partner of Angeles Equity Partners said, “The Chicago Heights operation has long been recognised by its customers as a leading provider of sound barrier and noise/vibration damping products in the automotive industry. We see this as a compelling opportunity for our firm to acquire a market leader that we believe is well positioned for growth – both organically as a standalone business, and through prospective add-on acquisitions.”

Timothy Meyer, co-founder and managing partner of Angeles Equity Partners said, “This deal combines our previous experience of driving growth in automotive investments, with our understanding of complex carve-out transactions. We are excited about today's announcement and look forward to partnering with the AAI team to establish a standalone business, and position it to achieve its full potential through customer focus, best practices, and innovation. Angeles Equity Partners will invest the necessary resources in an effort to realise the tremendous potential in the business.” (GK)

Fibre2fashion News Desk - India

 
 
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