Wynnchurch Capital sells JAC Products

ROSEMONT - Private equity firm Wynnchurch Capital said it has sold JAC Products to Argonaut Private Equity and Hall Capital for an undisclosed sum.

Headquartered outside of Detroit, JAC is the global supplier of roof rack systems and cargo management products to major original equipment manufacturers in the automotive industry. JAC offers a broad array of patented, proprietary products that are utilized on over 110 platforms globally.

Wynnchurch acquired JAC in December 2010.

"We are thankful to have partnered with a world class management team to capitalize on JAC's leading market position and drive significant operational improvement," said Ian Kirson, Partner at Wynnchurch. "These efforts significantly increased earnings and allowed us to realize an outstanding return for our investors. It is satisfying to see our combined efforts produce a Company that is the clear industry thought leader and is well positioned to enter its next phase of growth."

JAC's CEO Mike Wood said the company went through a multiyear transformation since it was acquired by Wynnchurch.

"The senior management team, with assistance from Wynnchurch, has taken steps to improve the business including developing a culture of transparency, problem solving and continuous improvement, increasing profitability through the elimination of waste and improving productivity, and focusing the Company on customer quality and product innovation," Wood said.

Quartan International acted as the exclusive financial adviser to JAC and Wynnchurch. Honigman Miller Schwartz and Cohn LLP and Kirkland & Ellis LLP acted as legal advisers to JAC and Wynnchurch in the sale process.