United States. MidOcean Partners, a New York-based alternative asset manager, announced the acquisition of Arnott Industries.
Arnott, founded in 1989, has a catalog of more than 800 products focused on light vehicles, with coverage of approximately 90% of the air suspension vehicles in operation. The company distributes its products to customers such as wholesalers, retailers, e-commerce platforms, and workshops. Its operations include facilities in the United States and Europe.
MidOcean plans to leverage its experience in the automotive sector to drive Arnott's growth through organic expansion strategies and acquisitions. This acquisition adds to MidOcean's other recent investments in the automotive market, including Cloyes, FullSpeed Automotive and Holley Inc.
Daniel Penn, CEO of MidOcean, highlighted the reason for the apparent success of this acquisition: "With MidOcean's deep experience in the sector, we believe there are numerous opportunities to accelerate the company's growth. We look forward to working with Joe and his leadership team to build on Arnott's success for years to come."
Joe Santangelo, CEO of Arnott, added, "We are excited to collaborate and learn from the executives and board members who support MidOcean's existing investments in the automotive market."
With this transaction, MidOcean continues to consolidate its presence in the automotive aftermarket, a sector that maintains long-term growth prospects.
