Private equity firm Littlejohn & Co. L.L.C. has completed the sale of automotive seal maker Henniges Automotive Inc. to China-based Aviation Industry Corp. (AVIC).
With headquarters in Auburn Hills, Mich., Henniges designs, manufactures and sells a line of highly engineered vehicle sealing systems for doors, windows, trunks, lift gates, sunroofs and hoods using both rubber and plastics. The firm operates 15 manufacturing plants and five engineering and technical centers with 7,000 employees in six countries.
Littlejohn acquired Henniges in 2010. At that time, Douglas DelGrosso was appointed CEO. Since then, Henniges has executed several strategic acquisitions and alliances to solidify the firm's position as a supplier of premium sealing solutions.
“The Littlejohn team provided us valuable assistance and support that enabled us to secure nearly $500 million of new business over the last three years and to drive substantial operational improvements throughout our organization,” DelGrosso said in a Sept. 9 news release. “With AVIC's support, Henniges remains well-positioned to capitalize on (original equipment manufacturers) migrating towards global platforms where few players can match the company's worldwide footprint and capabilities.”
Under Littlejohn's ownership, Henniges completed a strategic add-on acquisition in Eastern Europe, fully consolidated ownership of its joint venture in China, launched production in four new manufacturing facilities in China and Mexico and established several strategic alliances worldwide.
Most recently, Henniges formed a strategic alliance with Anhui Tousheng Auto-Parts Co. Ltd., a supplier based in Guangde, China. The firm said in a recent news release that Henniges and ATA will share a technical and manufacturing alliance to support the anti-vibration needs of a key customer, which enables Henniges to grow its business platform and further expand its global footprint.
ATA is a supplier of rubber dampening and other rubber products that reduce vibration.
AVIC is a Beijing-based multi-industry company with the bulk of its focus in aerospace, but additional business in automotive, engineering, construction and other industries.