Alkegen automotive arm 15-02-2023
Alkegen automotive arm
-Alkegen offloads automotive arm
Speciality materials platform Alkegen is to sell its Thermal Acoustical Solutions (TAS) business unit to private equity firm Regent, L.P. The TAS business manufactures high performance acoustical and thermal management insulation components for the automotive and transportation industries.
John Dandolph, Alkegen’s president and CEO said that the divestment was part of Alkegen’s long-term strategy to advance its growing portfolio of specialty materials dedicated to sustainability and human health. Alkegen automotive arm
“This divestiture allows us to focus all of Alkegen’s resources on our primary goal: advancing our unique platform of specialty materials that meaningfully help the world breathe easier, live greener and go further than ever before,” he said. “We’re excited for the future and the new opportunities this creates for both Alkegen and the TAS business as it moves forward with Regent.”
“We are pleased to have found a strong partner in Regent for the TAS business,” added Paul Vallis, Alkegen’s president of Filtration & Catalysis and General Manager of TAS, “and we look forward to seeing TAS employees and customers thrive under new ownership.” As part of the agreement, Paul Vallis will remain with Alkegen as President of its Filtration & Catalysis business group. Alkegen automotive arm
Alkegen originally acquired TAS as part of its acquisition of Lydall, Inc. in October 2021. The sale includes Thermal Acoustical Solutions locations in Hamptonville, North Carolina; Yadkinville, North Carolina; St. Nazaire, France; Meinerzhagen, Germany; and Taicang, China.
The transaction is expected to close in the first quarter of 2023, subject to appropriate labor consultations, regulatory filings, and other customary closing conditions.
Alkegen, formerly Unifrax and Lydall Materials, creates high performance specialty materials used in advanced applications including electric vehicles, energy storage, filtration, fire protection and high-temperature insulation, among many others. It operates 75 manufacturing facilities operating in 12 countries and employs 9,000+ employees globally. Alkegen automotive arm