An Affiliate of Sun Capital Partners Acquires Drivetrain Intermediary, LLC, the Wet Friction and Aftermarket Business Units of Raytech Corporation.

BOCA RATON, Fla. -- Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that one of its affiliates has acquired the wet friction and aftermarket businesses of Raytech Corporation ("Raytech"), which produce specialty-engineered friction and energy absorption components used in oil-immersed (wet) transmission and brake systems for on- and off- road vehicles under the RAYBESTOS[R] trademark. The wet friction and aftermarket units will operate under the names, Friction Holdings, LLC and PowerTrain Holdings, Inc., respectively. Terms of the acquisition were not disclosed.

Friction Holdings, LLC, the wet friction business unit, manufactures parts for automatic transmissions and a variety of clutch applications and wet-wheel brake components used in oil-immersed (wet) environments. Products are primarily used in original equipment vehicular transmissions and braking systems for automobiles and off-road heavy duty equipment sold globally. This unit operates facilities in Crawfordsville, Indiana and Greenwood, Mississippi.

PowerTrain Holdings, Inc., the aftermarket business unit, manufactures products for wet friction applications, primarily plates and friction materials for automobile and light truck automatic transmissions, as well as transmission filters and related components, which are sold to warehouse distributors and automotive aftermarket retailers. The unit has three facilities in Sullivan, Indiana.

Maja Gross, Vice President, Sun Capital Partners, Inc., said, "We believe that the wet friction and aftermarket businesses, operating as stand-alone entities, are well positioned to continue to pursue their own strategic objectives, including improved operating efficiencies, enhanced profitability and international growth. Sun Capital and its affiliates look forward to working with the management team to refine the units' business strategies."

About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 180 companies worldwide with combined sales in excess of $35.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www.SunCapPart.com.