Acon Investments becomes owner of Suzo-Happ.
18 July 2012 - Private equity fund Acon Equity Partners III LP, an affiliate of US investor Acon Investments LLC, said on Wednesday it had finalised the acquisition of domestic gaming components and accessories supplier Suzo-Happ Group for an undisclosed price.
The vendor was Chicago-based private equity firm Pfingsten Partners, which will keep a minority stake in Suzo-Happ together with the targeta[euro](tm)s management.
Acona[euro](tm)s founding partner Ken R. Brotman expressed his satisfaction with this partnership aimed at building value in a company set for continued growth.
Suzo-Happ Groupa[euro](tm)s president and CEO James Brendel welcomed Acon as the firm's new owner, saying he was confident that the alliance would help the companya[euro](tm)s future development into a global player providing quality and value to customers, suppliers and employees.
The buyer is using debt financing to fund the acquisition.
Mount Prospect, Illinois-based Suzo-Happ serves over 20,000 operators and original equipment manufacturers (OEMs) in the global the gaming, amusement and industrial markets. The company, formed in 2004 through the tie-up of Dutch-based Suzo International and Happ Controls in Illinois, employs a staff of 500. It has manufacturing, engineering, distribution and service presence in eight countries around the world.Acon Investments was advised by Hogan Lovells US LLP in this transaction, while Paul Hastings LLP acted as advisor to Pfingsten Partners.Country: USASector: Electronics, Machinery/EngineeringTarget: Suzo-Happ GroupBuyer: Acon Equity Partners III LP, Acon Investments LLCVendor: Pfingsten PartnersType: LBOStatus: ClosedBuyer advisor: Hogan Lovells US LLP
.END.PUB430>PDJuly 18, 2012>JNMANEWS.PRICEDATENOT APPLICABLE.DAY
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|Publication:||M & A Navigator|
|Date:||Jul 18, 2012|
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