September 29, 2022 – Dayco, LLC (“Dayco”), a leading engine products and drive systems supplier for the automotive and aftermarket industries, and Hidden Harbor Capital Partners (“Hidden Harbor”), a private equity firm that helps create business success stories by building teams focused on execution, today announced the closing of the previously announced acquisition of Dayco by Hidden Harbor. Financial details of the transaction were not disclosed.
Dayco was advised by Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel and Rothschild & Co served as financial advisor to Dayco. Hidden Harbor was advised by McDermott Will & Emery LLP as legal counsel, Cowen Inc. as buyside financial advisor, and Configure Partners as debt financing advisor.
Dayco is a global leader in the research, design, manufacture and distribution of essential engine drive systems and aftermarket services for automotive, truck, construction, agriculture and industrial applications.
Through its expertise in transferring power quietly and efficiently, Dayco has emerged as the leading global system solutions provider for hybrid electric vehicles. Dayco’s 115+ years of experience in drive systems allows the company to equip all customer applications around the world with the most effective drive systems to meet customer specific performance requirements. Dayco’s world class global distribution network services the aftermarket industry with a full offering of kits and products to meet each local market’s need. Dayco accomplishes this with a dedicated global team that respects one another, shows humility through continuous learning and acts like owners in everything they do.
Dayco has more than 40 locations in 22 countries and over 3,600 associates. For more information about Dayco, visit the company’s website at www.dayco.com.
About Hidden Harbor
Hidden Harbor Capital Partners is a private equity firm that helps create business success stories by building teams focused on execution. We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives. Hidden Harbor currently manages over $700 million of equity capital and is investing out of its second fund, a $450 million vehicle. To learn more, visit https://www.hh-cp.com/ and our page on LinkedIn.