Littlejohn sells SunSource.
BANKING AND CREDIT NEWS-November 6, 2017-Littlejohn sells SunSource
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Littlejohn & Co., LLC., a private investment firm based in Greenwich, CT, has announced that an affiliate has signed a definitive agreement to sell SunSource, a provider of industrial and mobile fluid power distribution for the past 70 years, to Clayton, Dubilier & Rice ("CD&R"), the company said.
Financial terms were not disclosed.
Based in Addison, Illinois, SunSource is a solutions-based industrial distributor providing highly customized, technical products and services to the North American fluid power and fluid process markets. SunSource serves as an integral partner to more than 20,000 customers and 400 suppliers by offering tailored solutions that help reduce maintenance and operating costs and increase productivity.
The company serves a diverse set of end markets, including the infrastructure, construction equipment, oil & gas, agricultural equipment, mining & metals processing, food and beverage, and forestry industries.
Barclays and Stephens served as financial advisors and Gibson, Dunn & Crutcher LLP as legal advisor to SunSource.
Littlejohn & Co. is a Greenwich, Connecticut-based investment firm focused on private equity and debt investments primarily in middle market companies. With over USD 5 billion under management, the Firm seeks to create long-term value for its investors and build sustainable success for its portfolio companies through a disciplined approach to engineering change. For more information about Littlejohn, visit http://www.littlejohnllc.com.
Headquartered in Addison, Illinois, SunSource is a value-added distributor of fluid power and motion control technologies in North America. As a technically focused distributor, SunSource serves as an extension of its customers' design and engineering teams and its suppliers' sales forces, delivering innovative solutions that lower total costs and streamline supply chains. The company operates through four highly focused strategic business units that provide tailored solutions for the unique needs of its Industrial, Mobile, Service & Repair and Process Solutions customers. For more information, visit http://www.sun-source.com.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Nov 6, 2017|
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