ANN ARBOR, MI — Prestolite Electric Holding, a manufacturer of alternators and starter motors for heavy-duty, military and industrial applications, has been acquired by an affiliate of First Atlantic Capital, Ltd, a New York City-based private equity investment firm. First Atlantic Capital specializes in acquiring and growing both private and publicly owned middle-market companies, as well as subsidiaries and divisions of large corporations.
Previously, Prestolite Electric was controlled by Genstar Capital, ULC.
In conjunction with the acquisition, Prestolite Electric Inc., the principal operating subsidiary of Prestolite Electric, has called its 9 5/8 percent Senior Notes for redemption.
“First Atlantic has a strong track record of growing its portfolio companies, while adding significant value to their operations,” said P. Kim Packard, president and CEO of Prestolite Electric. “I am confident that, as partners, we can continue the growth Prestolite Electric has enjoyed over the past several years.”
For additional information, go to: www.prestolite.com.
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