Sale to Koch Equity Development LLC and BDT Capital Partners, LLC

Industrial
Sale to Koch Equity Development LLC and BDT Capital Partners, LLC

Summary

Baird served as lead financial advisor to Truck-Lite Co., LLC on this transaction.

About

Affiliates of Koch Equity Development LLC (“KED”) and BDT Capital Partners, LLC (“BDT”), together with Penske Corporation (“Penske”), have completed the acquisition of Truck-Lite Co., LLC (“Truck-Lite” or the “Company”). Terms of the transaction were not disclosed.

Truck-Lite is a leading provider of transportation lighting and filtration systems for commercial vehicles as well as LED lighting to the off-road industry. The Company designs and manufactures premium quality, heavy-duty lighting, ranging from traditional incandescent to leading-edge LED lighting and related integrated electronics. Truck-Lite is based in Falconer, New York.

KED is the acquisition and investment subsidiary of Koch Industries, Inc., one of the largest private companies in America. It owns a diverse group of companies involved in refining, chemicals, biofuels and ingredients; forest and consumer products; fertilizers; polymers and fibers; process and pollution control equipment and technologies; electronic components; commodity trading; minerals; energy; ranching; glass; and investments. KED is based in Wichita, Kansas.

BDT provides family-owned and entrepreneurially led companies with long-term, differentiated capital. The firm manages investment funds of more than $8 billion, with an investor base that has the ability to invest significant additional capital. BDT is based in Chicago, Illinois.

Penske is a closely held, diversified, on-highway, transportation services company whose subsidiaries operate in a variety of industry segments, including retail automotive, truck leasing, transportation logistics, transportation component manufacturing and professional motorsports. Penske manages businesses with revenues in excess of $26 billion, operating in more than 3,300 locations and employing approximately 50,000 people worldwide. Penske is based in Bloomfield Hills, Michigan.

Kelso has been investing in North American private equity for over 35 years. Kelso benefits from a successful investment track record, a long-tenured and stable investing team, a reputation as a preferred partner to management teams and strategics, and a significant alignment of interest with all of its partners. Since 1980, Kelso has raised a total of nine private equity funds, representing nearly $11 billion of LP capital, and has made over 115 investments. Kelso is based in New York City, New York.

For additional information about this transaction, please contact:

Mike Lindemann +1 (414) 298-7408
Chris McMahon +1 (312) 609-4983
Adam Czaia +1 (414) 298-7358
Jeff Seaman +1 (312) 609-4687
Thomas Fetzer +49 (0) 69 1301-4920
Joachim Beickler +49 (0) 69 1301-4951
Industrial
Sale to Koch Equity Development LLC and BDT Capital Partners, LLC
Date
December 2015
Company
Truck-Lite Co., LLC
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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