Cerberus Capital Management’s Acquisition of Electrical Components International


Debevoise & Plimpton LLP is acting as legal advisor to Cerberus. Credit Suisse, Goldman Sachs, and Royal Bank of Canada are acting as financial advisors to Cerberus. Barclays, Credit Suisse, Goldman Sachs, and Royal Bank of Canada are providing committed financing for the transaction.

Cerberus Capital Management, L.P. (“Cerberus”) today announced that one of its affiliates has entered into an agreement to acquire Electrical Components International, Inc. (“ECI”) from affiliates of KPS Capital Partners, LP. ECI is the world’s leading manufacturer of wire harnesses, control boxes, and value-added assembly services for consumer appliance and specialty-industrial applications. Terms of the transaction, which is subject to customary conditions to closing, were not disclosed.

Headquartered in St. Louis, Missouri with 35 manufacturing facilities around the world, ECI’s global platform is a trusted supplier to the world’s leading home appliance and specialty-industrial equipment manufacturers. ECI’s products can be found in a wide variety of electronic and electro-mechanical applications, including home appliances, agriculture and construction, heating, ventilation, and air conditioning (HVAC), specialty transportation, automotive, commercial appliance, and commercial electronics. For more than 60 years, ECI has been providing best-in-class service and exceptional product quality to its global, blue-chip customer base.

Cerberus Capital Management, L.P. is a private equity firm specializing in investments in undervalued companies and distressed corporate debt and securities and Buyouts. The firm, led by Stephen Andrew Feinberg, Daniel E. Wolf, Frank W. Bruno and Matthew E. Zames, has over $30 billion under management.

The Debevoise team is led by partners Kevin Rinker (Picture) and Sue Meng and includes partners Michael Bolotin, Meir Katz and Jeff Ross; counsel Judith L. Church and Serhat T. Krause; and associates Samuel M. Duncan, Katherine E. Durnan, Andrew G. Jamieson, Jose Angel Lamarque III, John Love, Corina McIntyre, Kamal Nesfield, Sergio Torres, Wendy Widman, Caitlin Wilcox and Harry Zirlin.

Involved fees earner: Kevin Rinker – Debevoise & Plimpton; Sue Meng – Debevoise & Plimpton; Katherine Durnan – Debevoise & Plimpton; Andrew Jamieson – Debevoise & Plimpton; Jose Angel Lamarque III – Debevoise & Plimpton; John Love – Debevoise & Plimpton; Sergio Torres – Debevoise & Plimpton; Michael Bolotin – Debevoise & Plimpton; Samuel Duncan – Debevoise & Plimpton; Meir Katz – Debevoise & Plimpton; Wendy Widman – Debevoise & Plimpton; Jeffrey Ross – Debevoise & Plimpton; Kamal Nesfield – Debevoise & Plimpton; Judith Church – Debevoise & Plimpton; Corina McIntyre – Debevoise & Plimpton; Caitlin Wilcox – Debevoise & Plimpton; Serhat Krause – Debevoise & Plimpton; Harry Zirlin – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: Cerberus Capital;

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Author: Ambrogio Visconti