Your email has been sent!
The Suzo-Happ Group, a leading global supplier of spare parts /components and accessories to the Gaming, Amusement and Industrial markets, has been acquired by an affiliate of ACON Investments, L.L.C., a Washington. D.C. based private equity firm. Pfingsten Partners, the previous private equity owner, will maintain a minority interest along with current management. The Company will continue to be led by President and CEO James Brendel and other members of the existing management team and staff who will focus on global growth in the Gaming, Amusement and Industrial markets.
James Brendel, President and CEO of Suzo-Happ Group, commented, "The entire management team is excited about our partnership with ACON Investments. Under this new ownership Suzo-Happ will continue to grow as a global Company and provide quality, value, and satisfaction to our customers, suppliers and employees.”
"We are excited to partner with the management of Suzo-Happ Group to build value in a business that is poised for continued growth," said Ken R. Brotman, Founding Partner of ACON. "The Company has demonstrated solid performance through its long-tenured relationships with its customers and has built a solid foundation, which will ensure Suzo-Happ Group continued success. Customers see value in breadth of product, distribution excellence along with global engineering and manufacturing and we see continued opportunity to expand this concept across multiple end markets and geographies," added Brotman.
Financing for the transaction is being provided by PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC) and Cerberus Business Finance, LLC.