Wynnchurch Capital (“Wynnchurch”), a leading middle-market private equity firm, announced the sale of Safety Technology Holdings, Inc. (“STH”) to Golden Gate Capital. The Company will continue to be led by the current executive management team. Terms of the transaction were not disclosed.
Headquartered in Plymouth, Michigan, STH, through its Humanetics, HITEC & SDI subsidiaries, 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, and calibration and software products incorporate the latest biomechanical human simulations for the development and certification of occupant safety protection technologies. Coupled with HITEC & SDI’s advanced engineering & instrumentation services, STH’s products cascade across a variety of end markets around the world, including automotive, aerospace, industrial and medical devices.
Terry Theodore, a Partner at Wynnchurch, stated: “STH through Humanetics is the leading innovator and a pioneer in the crash test instrumentation and simulation industry. Chris O’Connor and his team at Humanetics have done an exceptional job in building upon and enhancing this legacy. They have significantly improved the company and expanded it internationally while always remaining focused on providing value and best-in-class service to their customers. Ultimately these are products that save lives – Wynnchurch and management are very proud of this fact and the role we’ve played in this during our investment in Humanetics.”
Chris O’Brien, a Managing Director at Wynnchurch, added: “Under management’s leadership and through significant strategic investments in engineering and operational talent, capacity improvements and product development, STH has become a world-class global supplier in the test and measurement industry. We wish Chris and his team continued success with their new partners.”
Christopher J. O’Connor, President and CEO of STH and Humanetics, stated, “Wynnchurch was essential in driving corporate initiatives that allowed for improved quality, throughput and technology ultimately benefiting all our customers worldwide. 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”. “We are very appreciative of their leadership and contributions and are looking forward to working with our new partners at Golden Gate to support the ‘next 60 years’ of continued product and regulatory growth for our customers worldwide.”
Harris Williams served as the financial advisor and Foley & Lardner served as the legal advisor to Wynnchurch.