Ardian North America Direct Buyouts will acquire Dynamic Technologies spa, a global designer and manufacturer of automotive fluid-handling systems and precision aluminum parts (see here the press release).
Dynamic Technologies is now owned with a 27% stake by MP Venture, with a 23% stake by Palladio Finanziaria and with a 21% stake by Friulia.
Concurrent with the Dynamic Technologies acquisition, 15 million euros of senior loans that Idea Corporate Credit Recovery 1 fund will be reimbursed. The fund is managed by Idea Capital Funds sgr together with Bayside Capital (Hig Capital group) and acquired the loans last year from a group of lending banks (see here a previous post by BeBeez). This is the first exit for Idea Ccr 1 fund which gained a positive Irr from the deal.
Ardian will merge Dynamic Technologies with Huron Inc, an existing portfolio company which is itself a designer and manufacturer of automotive fluid-handling systems. The combined entity will have ten manufacturing facilities across United States, Canada, Mexico, Italy, United Kingdom, Poland, Hungary and China serving the North American, European and Asian markets. The combination of the two companies creates the leading global supplier of automotive tubular components, achieving critical mass, product diversification, new materials capabilities, a worldwide manufacturing footprint, cross-selling opportunities, and a well-balanced customer base.
Walter Zonta, Dynamic Technologies’ ceo, will become the ceo of the newly merged company, which will ultimately be headquartered in North America. Jerry Solar, the ceo of Huron will remain the ceo of Huron. Robert Bales, the current chairman of Huron, will become the chairman of the combined company.
Dynamic Tecnologies reached 221.7 million euros in revenues in 2015 (from 183.9 millions in 2014), a 21.2 million euros ebitda (from 14.1 millions) and a 45.8 million euros net financial debt (from 52.8 millions), posting a net loss of one million euros (from about 7 millions) (see here an analysis by Leanus, after free registration and login).
Ardian launched its North America Direct Buyouts activity in October 2016 when it brought on board the team from Seven Mile Capital Partners, led by Vincent Fandozzi along with Kevin Kruse, Ardian managing director.
