|By PR Newswire||
|August 4, 2014 04:34 PM EDT||
GREENWICH, Conn., Aug. 4, 2014 /PRNewswire/ -- Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today that it has completed the previously announced sale of CoActive Technologies' business unit DeltaTech Controls, a global leader in customized electronic operator controls based on magnetic position sensing technology for the construction, agriculture and other industries, to Sensata Technologies Holding N.V. (NYSE: ST).
Littlejohn & Co invested in CoActive Technologies in 2007 and will continue to own its remaining operating unit, C&K Components, a leader in electronic switch and interface technology, selling into the automotive, industrial, telecom, aerospace, and consumer electronics markets.
Michael Kaplan, Managing Director of Littlejohn & Co., said, "DeltaTech achieved significant growth as a result of its focus on technology, customers and flawless execution. We thank CoActive's CFO Tom Schultz, DeltaTech's CEO Rick Haueter and the entire DeltaTech team for their tremendous effort over the last few years. We are also making significant progress with C&K, and in partnership with its management team continue to grow that business around the world."
Brian Ramsay, Littlejohn's President added, "DeltaTech's success exemplifies Littlejohn's investment philosophy. We were able to build and partner with a world class management team and support their efforts to enhance DeltaTech's market position through the volatile economic environment of the last 7 years."
Littlejohn and CoActive were advised by William Blair & Company, L.L.C., Business Development Asia LLC, and Pepper Hamilton LLP.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies facing the opportunities and challenges that come with significant change. The firm is currently investing from Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE Littlejohn & Co., LLC
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