Henniges Automotive Acquired by AVIC Automotive Systems Holding Co., Ltd. of China

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Sep 09, 2015, 10:30 ET

AUBURN HILLS, Mich., Sept. 9, 2015 /PRNewswire/ -- Henniges Automotive Holdings, Inc., a leading supplier of highly engineered sealing and anti-vibration systems for the global automotive market, announced it has been acquired by AVIC Automotive Systems Holding Co., Ltd. (AVIC Auto), a wholly-owned subsidiary of Aviation Industry Corporation of China ("AVIC"), which is also the professional platform for the development of automotive parts for the AVIC group. AVIC is a global Fortune 500 company (ranked 178 in 2014) and one of the largest state-owned enterprises in China, with its core business in the aviation industry. Terms of the acquisition were not disclosed.

As a progressively growing global supplier, Henniges Automotive designs, manufactures and sells dynamic sealing and anti-vibration solutions that keep vehicles quiet and dry for automotive original equipment manufacturers (OEMs) worldwide. Henniges recently has taken on various strategic growth moves to support customer programs in emerging markets around the world, and is in the process of expanding its global footprint with the addition of new facilities located in Mexico, China and Germany.

Douglas DelGrosso, president and CEO of Henniges Automotive, said: "We are encouraged about this acquisition by AVIC Auto, which will provide the capital and financial backing needed to sustain and grow our business, and ensure that the Henniges heritage, culture and name continue to thrive into the future. We are confident that AVIC Auto ownership will give Henniges Automotive further opportunities for continuous advancement in technology and solutions that drive positive results for our customers."

This is one of the largest acquisitions by a Chinese company of a U.S.-based automotive manufacturing company in history; AVIC Auto also purchased Michigan-based Nexteer Automotive Group Ltd. in 2011. Henniges Automotive will benefit from AVIC Auto's reputation as a technology and innovation leader, as well as its best-in-class solutions that result in value for customers. Additionally, as customers continue to turn to resources across the globe, this new acquisition will enhance Henniges Automotive's worldwide capabilities and expand the Chinese market.

"This acquisition represents a long-term, strategic investment by AVIC Auto to sustain and grow the Henniges business, while keeping the successful leadership, culture, benefits and contracts associated with the company intact," said Daen Lu, chairman of Henniges Automotive. "We are excited about this acquisition, and look forward to the addition of their significant expertise and the benefits it will bring to both of our companies."

Henniges Automotive was purchased by Littlejohn & Co., LLC, a private investment firm based in Greenwich, Connecticut, in 2010.

"We are grateful to the Littlejohn team for their guidance, collaboration and financial support for the past five years. They played an important role in positioning Henniges for its next phase of growth and success," added DelGrosso.

About Henniges Automotive

Henniges provides automotive original equipment manufacturers (OEMs) with sealing systems for doors, windows, trunks, lift gates, sunroofs and hoods. The company also supplies the automotive market with anti-vibration products, encapsulated glass, and other rubber components. Henniges sells to all major Automotive OEM customers and operates facilities in North America, Europe, and China. The company has over 7,100 employees worldwide. More information can be found at www.HennigesAutomotive.com.

SOURCE Henniges Automotive