Private investment firm Sun Capital Partners recently announced that one of its affiliates has acquired the wet friction and aftermarket businesses of Raytech Corporation (“Raytech”), which produces specialty-engineered friction and energy absorption components used in oil-immersed (wet) transmission and brake systems for on- and off- road vehicles under the RAYBESTOS® trademark.
The wet friction and aftermarket units will operate under the names, Friction Holdings, LLC and PowerTrain Holdings, Inc., respectively. Terms of the acquisition were not disclosed.
Friction Holdings, LLC, the wet friction business unit, manufactures parts for automatic transmissions and a variety of clutch applications and wet-wheel brake components used in oil-immersed (wet) environments.
Products are primarily used in original equipment vehicular transmissions and braking systems for automobiles and off-road heavy duty equipment sold globally. This unit operates facilities in Crawfordsville, Ind. and Greenwood, Miss.
PowerTrain Holdings, Inc., the aftermarket business unit, manufactures products for wet friction applications, primarily plates and friction materials for automobile and light truck automatic transmissions, as well as transmission filters and related components, which are sold to warehouse distributors and automotive aftermarket retailers. The unit has three facilities in Sullivan, Ind.
Maja Gross, vice president, Sun Capital Partners, Inc., says, “We believe that the wet friction and aftermarket businesses, operating as stand-alone entities, are well positioned to continue to pursue their own strategic objectives, including improved operating efficiencies, enhanced profitability and international growth. Sun Capital and its affiliates look forward to working with the management team to refine the units’ business strategies.”
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