Tucson, AZ – The Carlyle Group (NASDAQ: CG) today announced that it has acquired 100% of the outstanding shares of Walbro Engine Management from Sun Capital Partners. The Carlyle Group is one of the largest and most successful investment firms in the world.
Walbro Engine Management is the world’s largest manufacturer of carburetors in the lawn & garden market and a major manufacturer of ignition systems, fuel injection and air/fuel management components, and fuel storage and delivery components for outdoor power equipment, marine, recreational and two-wheel applications.
In announcing the acquisition, Mr. Kazuhiro Yamada, Managing Director and Co-Head of Carlyle Japan, said, “Walbro is a proven industry leader with a strong management team and outstanding global presence. We will harness Carlyle’s global network and financial resources to help Walbro expand to the next stage of product innovation and take advantage of global growth opportunities.”
Mr. Tony Martin, Chief Executive Officer, Walbro Engine Management, said “This ownership change is very positive news for Walbro, its customers, suppliers and employees. The Carlyle Group is fully supportive of our ongoing commitment to our customers, and our efforts to create significant customer value by providing outstanding products supported by excellent service. The resources of The Carlyle Group will help us continue to serve our current customers and grow our future business with products and technology targeted to meet today’s global environmental and business challenges.”
“I am especially proud of the efforts of Walbro employees located around the world in developing, manufacturing and marketing innovative products that add value to our company,” Martin added. “Our employees have risen to the challenges of the global marketplace and responded with enthusiasm, pro-active thinking and hard work to position Walbro for the next level of growth with the support of The Carlyle Group.”
About Walbro Engine Management
Founded in 1950 and headquartered in Tucson, Arizona, Walbro Engine Management is the world’s largest manufacturer of carburetors and a major manufacturer of ignition systems, fuel injection and air/fuel management components, and fuel storage and delivery components for engines targeted at outdoor power equipment, marine, recreational and two-wheel applications. Walbro Engine Management employs 2,200 people in facilities in the United States, Japan, Thailand, China and Mexico.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is global alternative asset manager with $156 billion of assets under management across 99 funds and 63 fund of fund vehicles as of June 30, 2012. Carlyle’s purpose is to invest wisely and create value. Carlyle invests across four segments – Corporate Private equity, Real assets, global Market Strategies and Fund of Fund Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,300 people in 32 offices across six continents. www.carlyle.com; www.youtube.com/onecarlyle
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Walbro Engine Management