TUCSON, Arizona, March 8, 2007
Walbro Engine Management is acquired by Sun Capital Partners, Inc.
The completion of the purchase of Walbro Engine Management from TI Automotive by an affiliate of Sun Capital Partners, Inc. was announced today by Tony Martin, Chief Executive Officer, Walbro Engine Management. (This purchase was part of TI Automotive’s sale of the Industrial Group which also included the sale of two other businesses, Vari-Form and Bundy Refrigeration).
"This ownership change is very positive news for Walbro Engine Management's customers, suppliers and employees," stated Martin.
"Sun Capital’s ownership will enhance Walbro Engine Management's ability to grow its business. Our goal remains to create significant value and benefit for our customers and suppliers by continuing to add to our product portfolio and enhancing our technical capabilities."
Walbro Engine Management is a global market leader of engine management systems for the lawn and garden, recreational and marine, outdoor power equipment, and two-wheel small engine markets.
Walbro was founded in 1950 in Fenton, Michigan, as a small company dedicated to manufacturing carburetors for the small engine industry. As Walbro rapidly grew its automotive fuel system business, a separate Walbro Engine Management business unit was created to specifically focus on the global small engine market with an expanded product portfolio which included ignitions, flywheels, fuel injection and air/fuel management systems and fuel storage and distribution systems. Also, a global organization was created with manufacturing and engineering facilities in China, Italy, Japan, Mexico, Thailand and the United States with headquarters based in Tucson, Arizona.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 145 companies worldwide with combined sales in excess of $33.0 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Tokyo, and Shenzhen. For more information, please visit www:SunCapPart.com.
For more information, please contact:
Ann M. Guernsey
Walbro Engine Management
(520) 877-3000