Littlejohn & Co., LLC., a private investment firm based in Greenwich, Conn., has announced that an affiliate has signed a definitive agreement to sell SunSource, an industrial and mobile fluid power distribution for the past 70 years, to Clayton, Dubilier & Rice. Financial terms were not disclosed.
Based in Addison, Ill., SunSource is a solutions-based industrial distributor providing highly customized, technical products and services to the North American fluid power and fluid process markets. SunSource serves as an integral partner to more than 20,000 customers and 400 suppliers by offering tailored solutions that help reduce maintenance and operating costs and increase productivity. The Company serves a diverse set of end markets, including the infrastructure, construction equipment, oil & gas, agricultural equipment, mining & metals processing, food and beverage, and forestry industries.
Tony Miranda, a Managing Director at Littlejohn, said, “SunSource is a leading platform and we are proud to have supported the Company’s growth by focusing on expanding its product offering and market penetration. Under Littlejohn’s ownership, SunSource significantly diversified its revenue base, strengthened its sales organization and successfully completed six strategic acquisitions. It has been a great pleasure working with David Sacher and the SunSource team and we wish them continued success.”
Steven Kalter, a Principal at Littlejohn, said, “Together with SunSource’s world-class management team, we are proud to have bolstered the Company’s capabilities in industrial service and repair. Through this focused initiative, SunSource was able to add expertise in electronics, robotics, servo motors and valves, controls, and automation, strengthening its customer value proposition and providing significant runway for growth.”
David Sacher, President and CEO of SunSource, said, “Littlejohn has been a valuable partner for the past six years, bringing its deep industrial expertise, relationships and operational experience to accelerate our growth plans. With CD&R’s support, SunSource remains well-positioned for our next chapter of growth.”
Littlejohn & Co., LLC
www.littlejohnllc.com
SunSource
www.sun-source.com
Filed Under: Mobile Hydraulic Tips
