Ardian has reached a deal to purchase Dynamic Technologies S.A., an automotive tube manufacturer, for an undisclosed amount. Concurrent with the acquisition, Dynamic Technologies will merge with existing Ardian portfolio company Huron Inc., a designer of vehicular fluid-handling systems.
Founded in 1983, Dynamic Technologies is an Attimis, Italy-based manufacturer of tubular parts for the automotive industry. With the merger of Huron, the combined company will have a total of ten manufacturing facilities across the U.S., Canada, Mexico, Italy, the U.K., Poland, Hungary and China. The company will target the fluid handling tubing segment for transmission and engines in North America, Europe and China.
“Market trends in the tubular business require suppliers to become more vertically integrated and global in the manufacturing and business development approach,” states Dynamic Technologies CEO Walter Zonta. “With this merger, DT will establish an important base in the US and access to new original equipment manufacturer customers.“
The deal for Dynamic Technologies was originated by Ardian’s North America Direct Buyouts division, which launched in October 2016. The North American direct investment segment focuses on lower middle-market buyouts, targeting specifically industrial and related business services companies. Dominique Senequier founded the Paris-based private equity group of French insurer Axa in 1996 and spun it off in 2013, renaming it Ardian. Today, the firm manages more than $62 billion in assets. Ardian has more than 130 companies in its current portfolio to date, including: SLV, Air Medical Group Holdings, Esim Chemicals, HR Path, IMV Technologies, and PetSmart Inc.
The PE firm recently acquired chemical storage operator LBC Tank Terminals and bought SLV, a maker of residential and commercial lighting fixtures, from Cinven Group Ltd. Earlier in 2016, Ardian raised its fourth infrastructure fund with $2.88 billion to back European companies. In 2015, Ardian raised its fourth co-investment fund with $1.17 billion as well as a $2.25 billion European debt fund. In 2014, the firm purchased a $1.3 billion limited partnership portfolio from GE, which consists of limited partner interests in U.S. buyout funds.