BOCA RATON, Fla., June 26, 2003 -- Sun Capital Partners, Inc., a private investment firm, announced that one of its affiliates has completed the acquisition of Dura-Line, from Emerson Electric Co.
Dura-Line is an international manufacturer of high-density polyethylene pipe, duct and conduit products used by the telecommunications, cable television, electric power, water and natural gas industries. The terms of the transaction were not disclosed.
The acquisition includes Dura-Line's manufacturing and sales facilities in the United States, Mexico, India and the Czech Republic.
R. David Corey, President of Dura-Line, said, "We are quite excited to join the Sun Capital portfolio of companies. Sun's history of providing support and investing in their holdings will allow Dura-Line to further reinforce our global position as the technological leader in our industry."
Michael Kalb, Principal of Sun Capital Partners, Inc. added, "We believe the company's product quality, proprietary technologies and customer service are unmatched in the industry, and we are excited to partner with Dura-Line's existing management team as well as the other 300-plus loyal Dura-Line employees worldwide. We have a lot of experience in assisting companies in their transition from a division of a larger company to a stand-alone entity, and we are excited about the future prospects of Dura-Line."
About Sun Capital
Sun Capital Partners, Inc. is a private investment firm focused on leveraged buyouts. Sun Capital has invested in more than 50 companies during the past several years with combined sales in excess of $7.0 billion. Sun Capital has more than $700 million under management and is making new investments through Sun Capital Partners III, LP, and Sun Capital Partners III QP, LP, together a $500 million fund raised in January 2003.
Participating in Sun Capital's fund are fund-of-funds investors, university endowments, pension funds, financial institutions and high net worth individuals, families and trusts. For more information about Sun Capital, visit www.SunCapPart.com.