Golden Gate Capital Acquires Safety Technology Holdings, Inc.
SAN FRANCISCO, December 4, 2013-- Golden Gate Capital, a leading investment firm with extensive experience in the technology and industrial sectors, announced today that it has acquired Safety Technology Holdings, Inc. (“STH” or the “Company”) from Wynnchurch Capital. STH, with offices worldwide, will remain headquartered in Plymouth, Michigan. The Company will be led by the current executive management team who will also continue as investors in the Company. Terms of the transaction were not disclosed.
Safety Technology Holdings, through its Humanetics, HITEC & SDI subsidiaries, has been the leader in the development of biofidelic Anthropomorphic Test Devices (ATDs), commonly known as crash test dummies, and related sensor measurement systems since first introduced during the early 1950s. Today, Humanetics’ suite of ATDs, sensors, and calibration and software products incorporate the latest biomechanical human simulations for the development and certification of occupant safety protection technologies. Coupled with HITEC & SDI’s advanced engineering & instrumentation services, STH’s products cascade across a variety of end markets around the world, including automotive, aerospace, industrial and medical devices.
“We are excited to partner with Golden Gate Capital, who has demonstrated a proven track record of building long-term value for its portfolio companies,” said Christopher J. O’Connor, STH’s President and CEO. “Golden Gate Capital has exhibited a full understanding of Humanetics’ social responsibility and offers us long-term backing to support the ‘next 60 years’ of continued product and regulatory growth for our customers worldwide.”
“Industrial technology, specifically test, measurement and sensors, is a rapidly growing and highly fragmented industry. We look forward to partnering with management to help build STH into one of the most comprehensive test measurement and sensor companies in the world,” said Rajeev Amara, Managing Director of Golden Gate Capital.
GE Capital and KKR Financial provided financing to support the transaction. Harris Williams advised STH. Baird advised Golden Gate Capital.
Humanetics Innovative Solutions is a global company whose strategy is to harness the best of today's technologies for the creation of high-quality products which play an important role in improving safety, comfort and protection of people and their environment. Humanetics is the world’s leading supplier in the design and manufacture of sophisticated crash test dummies, associated technical support and laboratory services and load cell crash wall systems. Furthermore, Humanetics develops and supplies finite element software dummy models for computerized crash test simulations and specialties in static and dynamic strain measurements. For additional information on Humanetics, see www.humaneticsatd.com, HITEC see www.hitecorp.com and SDI see www.sensdev.com.
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $12 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Other notable industrials investments sponsored by Golden Gate Capital include US Silica, EP Minerals, ArrMaz, Springs Window Fashions and Atrium Windows. For additional information, visit www.goldengatecap.com.
For Safety Technology Holdings, Inc.:
Mr. Christopher J. O’Connor, + 1 734-446-3093
President & CEO
For Humanetics Innovative Solutions, Inc.:
Mr. Michael Jarouche, +1 734-446-3106
Vice President, Global Sales & Marketing
For Golden Gate Capital:
Sard Verbinnen & Co
Nathaniel Garnick / Jenny Gore
212-687-8080 / 312-895-4700
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