By Brenda Showalter, The Republic Reporter
New owners of ArvinMeritor's Emissions Technologies group, including plants on Gladstone Avenue and in Walesboro, have spent $3 billion in recent years acquiring more than 20 companies.
One Equity Partners' most recent acquisition for $310 million is one of its largest.
According to the company's Web site, OEP typically invests $50 million to $200 million as it looks for companies in "growing or changing industries."
OEP is an equity investment firm based in New York with offices in Chicago and Frankfurt, Germany.
Its acquisitions have included companies from a variety of industries including defense, chemicals, healthcare, technology and manufacturing.
The company manages $5 billion in investments with JP Morgan Securities providing debt financing.
"Our investment approach is to focus on proven trends or attractive sectors rather than on companies that happen to be for sale," the Web site states.
OEP's purchase of ArvinMeritor's Emissions Technologies group involves operations in 19 countries with 7,500 employees.
"OEP is looking forward to working with the Emissions Technologies management team to execute a focused and aggressive growth plan," said OEP Senior Partner Lee Gardner.
"We are very pleased to be acquiring a leading company in this industry. We will seek to build on the competitive strengths of the business and position it for long-term success."
Gardner is former president and chief operating officer of Masco Industries Inc, a manufacturer of products for home improvement and new construction.
Lin Cummins, spokeswoman for ArvinMeritor, said OEP provides financial resources and strong management groups.
Senior staff of OEP, which was established in 2001, includes CEO-level executives from Fortune 100 companies.
OEP's Web site states that it is a company that invests for the long term and that it is not restrained by time limits found in most fund-based private equity firms.