San Diego, CA, August 12, 2011 --(PR.com
)-- Autosplice today announced that J.H. Whitney Capital Partners, LLC, a private equity firm based in New Canaan, CT, has joined with the existing management team to acquire the company. The Autosplice name will continue, and all day-to-day operations of Autosplice will remain in their current locations and the Autosplice management team will remain in place.
"This is an exciting time for Autosplice and its associates. With a 57-year track record of growth and entrepreneurship, Autosplice is poised for continued innovation and success," said Irwin Zahn, Autosplice's founder and owner. "As I leave the company, I feel very confident about the future of Autosplice as J. H. Whitney partners with management as the new owners of the company."
"I look forward to our partnership with J.H. Whitney and believe our position and growth potential in the global marketplace will be strengthened with this transaction," noted Adrian Melnyk, President of Autosplice. "As the electrical interconnect market continues to evolve, this partnership affirms our commitment to remaining at the forefront of the industry and delivering high quality specialty solutions to our customers around the world."
Autosplice is a multi-national, custom electronic interconnect solutions provider for the global Industrial, Consumer, Transportation, Medical, Automotive, and Telecom markets. The company's diverse and engineered solutions oriented product portfolio includes connectors, precision metal pins & stampings, continuous molded interconnects, integrated connector modules, shape memory alloy assemblies, printed circuit board assemblies and insertion equipment. Headquartered in San Diego, CA, Autosplice operates in nine countries around the world; USA, Mexico, Brazil, UK, Germany, Japan, Korea, Singapore, and China. To learn more about Autosplice, visit www.autosplice.com.
About J.H. Whitney
J.H. Whitney, established in 1946 by the industrialist and philanthropist, John Hay "Jock" Whitney, was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, Whitney remains privately owned by its investing professionals and its main activity is to provide private equity capital to small and middle market companies with strong growth prospects in a number of industries including consumer, healthcare, specialty manufacturing and business services. To learn more about J.H. Whitney, visit www.whitney.com.