American Securities Announces Agreement to Sell SeaStar Solutions to Dometic Group

NEW YORK, Nov. 22, 2017 /PRNewswire/ -- American Securities LLC, a leading U.S. private equity firm, today announced that it has entered into a definitive agreement to sell SeaStar Solutions ("SeaStar" or the "Company") to Dometic Group (STO: DOM) ("Dometic") for $875 million.  Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation, and Food & Beverage.  The transaction is expected to close in the fourth quarter of 2017, and is subject to customary closing conditions and regulatory approvals.

SeaStar is a leading, global provider of vessel control, fuel systems and system integration to the marine industry.  The Company is the market leader in its key product areas with strong market shares.  SeaStar today operates some of the strongest brands in the market, such as SeaStar, xtreme, MOELLER, Optimus, and Sierra.  The Sierra aftermarket platform is the world's largest independent marine aftermarket parts supplier.  SeaStar is based in Litchfield, IL, operates 8 facilities, and employs approximately 1,250 people.

"We are proud of our commitment to research and development, which has allowed us to regularly launch new and innovative products," said Yvan Cote, President and CEO of SeaStar.  "During our nearly four-year partnership with American Securities, they have been a valuable resource in achieving our growth objectives.  We look forward to our next chapter of growth with Dometic."

Scott Wolff, a Managing Director of American Securities, commented, "We are proud to have supported Yvan and the talented SeaStar management team to drive organic growth and execute strategic acquisitions during our partnership."

Arnold & Porter Kaye Scholer LLP acted as legal advisor, and RBC Capital Markets and Baird acted as financial advisors to SeaStar. 

About SeaStar

SeaStar Solutions is the leading global provider of OEM and aftermarket products and accessories for the recreational marine and related markets. Sold around the world under the SeaStar, Sierra, BayStar, Shields, Inca, Mallory, Prime Line and Proheat brands, the Company's products are recognized for their quality, reliability and technical innovation. For more information, please refer to the Company's website at www.seastarsolutions.com.

About American Securities

Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $300 million of EBITDA. American Securities and its affiliates have approximately $15 billion under management. 
www.american-securities.com

View original content:http://www.prnewswire.com/news-releases/american-securities-announces-agreement-to-sell-seastar-solutions-to-dometic-group-300560967.html

SOURCE American Securities LLC

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.