New York-based MidOcean Partners — an asset manager specializing in middle-market private equity — acquired automotive air suspension supplier Arnott Industries.
Terms of the transaction were not disclosed.
Merritt Island, FL-based Arnott is a North American and European manufacturer and distributor of air suspension systems and components for the automotive aftermarket. Founded in 1989, the company offers over 800 products for light passenger vehicles, covering about 90% of air-equipped vehicles (VIO) with original equipment quality.Image may be NSFW.
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“The deep expertise that MidOcean’s investment team and operating partners have accumulated through a unique combination of investing in and running auto aftermarket businesses sets the firm apart and makes it the ideal partner for us in this next phase of growth,” Arnott CEO Joe Santangelo said in a Nov. 18 news release. “We are excited to engage with and learn from the deep bench of executives and board members that support MidOcean’s existing auto aftermarket investments.”
This acquisition marks MidOcean’s fourth investment in the automotive aftermarket industry in the past five years, following previous investments in Cloyes, FullSpeed Automotive and Holley Inc.
The post Suspension Systems Distributor Arnott Privately Acquired appeared first on Modern Distribution Management.
