American Industrial Partners, the principal selling stockholder of Stanadyne's parent company, is a private equity firm which partners with management to invest in middle market manufacturing and industrial service companies. American Industrial Partners has owned Stanadyne since December 1997.
William D. Gurley, President and Chief Executive Officer of Stanadyne, commented on the transaction, "Stanadyne has consistently displayed the ability to effectively manage our multifaceted international business and create value by focusing on its customers, employees, and operational excellence. The Stanadyne team is looking forward to working with Kohlberg in the anticipated expansion of its customer base, new product introductions, and underlying business growth."
Goldman, Sachs & Co. advised Stanadyne on this transaction.
Stanadyne Corporation is a leader in technology and services for engine components and fuel systems including diesel fuel injection and filtration systems, valve train components, and oil and fuel supply pumps used in agricultural, construction, automotive, marine, and industrial vehicle and equipment applications. The Company is headquartered in Windsor, Connecticut and has facilities in the United States, Brazil, France, Italy, and India.
Founded in 1987, Kohlberg & Company, L.L.C. is a private merchant banking firm with offices in Mt. Kisco, New York and Palo Alto, California. Through its affiliates, Kohlberg & Company, L.L.C. has completed more than 75 acquisitions and recapitalization transactions in a variety of industries.