Sensata Technologies is buying a stake in Wabash Technologies.
Wabash, headquartered in Troy, Mich., supplies powertrain sensors and actuators for cars. Terms of the deal were not disclosed.
Sensata, headquartered in Attleboro, Mass., also makes sensors and controls for the automotive market. The company’s products are also used for semiconductors, appliances and electronics.
Private equity firm Sun Capital Partners Inc., through an affiliate, is selling its investment in Wabash. Boca Raton, Fla.-based Sun Capital, in September, bought retail business Gem Shopping Network. In October, the firm sold Gerber Childrenswear LLC.
Lincoln International advised Sun Capital on the deal.