For Immediate Release
HUMANETICS INNOVATIVE SOLUTIONS, INC. PARTNERS WITH GOLDEN GATE CAPITAL
PLYMOUTH, MI – December 4th, 2013 - Humanetics Innovative Solutions (Humanetics), Inc. and its affiliated companies is pleased to announce a partnership agreement with Golden Gate Capital, a leading investment firm with extensive experience in the technology and industrial sectors. Unlike conventional private equity firms, Golden Gate Capital operates as a private holding company, building businesses in partnership with management over an indefinite time horizon. Humanetics will continue with its current leadership team. Terms of the transaction were not disclosed.
Humanetics, a division of Safety Technology Holdings (STH), Inc. has been the leader in the development of biofidelic Anthropomorphic Test Devices (ATDs) and related sensor measurement systems since first introduced during the early 1950s. Today, Humanetics’ suite of ATDs, sensors, calibration, test equipment, services and software products incorporate the latest biomechanical human simulations for the development and certification of occupant safety protection technologies. Coupled with HITEC Sensor Solutions, Inc. (HITEC) and Sensor Developments, Inc. (SDI) advanced engineering & instrumentation services, STH’s products cascade across a variety of end markets around the world, including automotive, aerospace, industrial and medical devices.
“We are excited to partner with Golden Gate Capital, who has demonstrated a proven track record of building long-term value for its portfolio companies,” said Christopher J. O’Connor, President and CEO of STH and Humanetics. “Golden Gate Capital has exhibited a full understanding of Humanetics’ social responsibility and offers long-term backing to support the ‘next 60 years’ of continued product and regulatory growth for our customers worldwide.”
“Industrial technology, specifically test, measurement and sensors, is a rapidly growing but highly fragmented industry. With over $12 billion of total committed capital, our goal is to partner with Chris and the management team to help build Humanetics and its affiliated companies into one of the most comprehensive test measurement and sensor companies in the world,” said Rajeev Amara, Managing Director of Golden Gate Capital.
"Humanetics is the leading innovator and a pioneer in the crash test instrumentation and simulation industry,” stated Terry Theodore, a Partner at Wynnchurch. “Chris O’Connor and his team have done an exceptional job in building upon and enhancing this legacy. They have significantly improved the company and expanded its operation internationally while always remaining focused on providing value and best-in-class service to their customers. Ultimately these are products that save lives.”
“Wynnchurch facilitated our ability to invest in advanced products, new production equipment, enhanced materials and expanding our resources to greatly improve the performance of our Company”, stated Chris O’Connor. “We are very appreciative of their leadership and contributions, and we are looking forward to working with our new partner Golden Gate.”
Humanetics Innovative Solutions is a global company whose strategy is to harness the best of today's technologies for the creation of high-quality products which play an important role in improving safety, comfort and protection of people and their environment. Humanetics is the world’s leading supplier in the design and manufacture of sophisticated crash test dummies, associated technical support and laboratory services and load cell crash wall systems. Furthermore, Humanetics develops and supplies finite element software dummy models for computerized crash test simulations and specializes in static and dynamic strain measurements. For additional information on Humanetics, see www.humaneticsatd.com, HITEC see www.hitecorp.com and SDI see www.sendev.com.
Wynnchurch Capital, headquartered in the Chicago suburb of Rosemont, Illinois with offices in Detroit, Toronto, and an affiliate office in Montreal, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada which have outstanding management teams and possess the potential for substantial growth and profit improvement. Wynnchurch focuses on investments in niche manufacturing, business and industrial services, energy and power services, logistics, transportation and value-added distribution. Wynnchurch manages a number of private equity funds with capital under management in excess of $1 billion specializing in management buyouts, recapitalizations, corporate carve-outs, restructurings and growth capital. For more information, please visit: www.wynnchurch.com
About Golden Gate Capital
Golden Gate Capital is a San Francisco-based private equity investment firm with approximately $12 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Other notable industrials investments sponsored by Golden Gate Capital include US Silica, EP Minerals, ArrMaz, Springs Window Fashions and Atrium Windows. For additional information, visit www.goldengatecap.com
For Safety Technology Holdings, Inc.:
Mr. Christopher J. O’Connor
President & CEO
+ 1 (734) 446-3093
For Humanetics Innovative Solutions, Inc.:
Mr. Michael Jarouche
Vice President, Global Sales & Marketing
+1 (734) 446-3106
For HITEC Sensor Solutions, Inc.:
Mr. Doug Unkel
+1 (978) 698-7238