Strengthens Balance Sheet with a $35 Million Capital Investment from Cerberus-Led Investor Group
JACKSONVILLE, N.C.–(BUSINESS WIRE)–Stanadyne Operating Company LLC (“Stanadyne” or the “Company”), a newly formed entity supported by an investor group led by affiliates of Cerberus Capital Management, L.P. (“Cerberus”), announced today that it has completed its acquisition of substantially all of the assets of Stanadyne LLC and certain of its affiliates.
Stanadyne, a global automotive technology leader specializing in engine-based fuel and air management systems, begins this exciting chapter with a strong financial foundation, significant operational flexibility, and best-in-class quality systems. In addition to the completion of the transaction, the Cerberus-led investor group has provided a $35 million capital investment to further strengthen the Company’s balance sheet. With its strong base and resources, Stanadyne is well-positioned to meet customers’ diverse mobility needs in the evolving vehicle propulsion market. The Company will drive continued growth by investing further in engine innovations enabling clean propulsion, expanding core capabilities, and executing on strategic opportunities to deliver the highest quality engine decarbonization products and solutions.
“The Stanadyne platform has become a global automotive technology leader known for its innovation, quality, and reliability,” said Joseph Naccarato, Chief Credit Officer and Chief Operating Officer of Cerberus Business Finance. “For more than 70 years, the business has supported the advancement of fuel systems with cutting-edge technologies. With a strong foundation, Stanadyne can drive growth to meet the distinct needs of customers both today and in the future. We look forward to working with the team to deliver best-in-class engine solutions.”
About Stanadyne
Stanadyne designs, manufactures, and remanufactures fuel delivery systems and components for gasoline and diesel engines, as well as low-carbon alternative fuels. The company specializes in pioneering technology for engines that move our world and remanufactured components that help keep them operating efficiently. The company provides customers with customized design, engineering, and manufacturing solutions from its United States, China, Italy, India, and United Arab Emirates locations in partnership with its global aftermarket service dealers and distributor network. For more information, visit stanadyne.com.
About Cerberus
Founded in 1992, Cerberus is a global leader in alternative investing with approximately $60 billion in assets under management across complementary credit, private equity, and real estate strategies. We invest across the capital structure where we believe our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com
Contacts
Stanadyne
Brad Warner
(248) 961-3071
bwarner@stanadyne.com
Cerberus
media@cerberus.com
