Autosplice announced that J.H. Whitney Capital Partners, LLC, a private equity firm based in New Canaan, CT, has joined with the existing Autosplice management team to acquire the company.
"This is an exciting time for Autosplice and its associates. With a 57-year track record of growth and entrepreneurship, Autosplice is poised for continued innovation and success," commented Irwin Zahn, Autosplice's founder and owner. "As I leave the company, I feel very confident about the future of Autosplice as J. H. Whitney partners with management as the new owners of the company."
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According to a news release, in light of the move, "the Autosplice name will continue, and all day-to-day operations of Autosplice will remain in their current locations and the Autosplice management team will remain in place."
"I look forward to our partnership with J.H. Whitney and believe our position and growth potential in the global marketplace will be strengthened with this transaction," noted Adrian Melnyk, President of Autosplice. "As the electrical interconnect market continues to evolve, this partnership affirms our commitment to remaining at the forefront of the industry and delivering high quality specialty solutions to our customers around the world."
More Info:
www.autosplice.com
www.whitney.com
