Irving-based Alkegen has agreed to sell its Thermal Acoustic Solutions business to global private equity firm Regent LP. The deal aligns with the company’s long-term strategy to advance its growing portfolio of specialty materials dedicated to sustainability and human health, according to Alkegan.
“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,” Alkegen President and CEO John Dandolph said in a statement.
“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.”
Alkegen selling automotive thermal acoustical business
Alkegen’s Thermal Acoustical Solutions unit manufactures high-performance acoustical and thermal management insulation components for the automotive and transportation industries. Financial details of the transaction were not disclosed.
“We are pleased to have found a strong partner in Regent for the TAS business,” Paul Vallis, Alkegen’s president of Filtration & Catalysis and General Manager of TAS, said in a statement. “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.
The company said the sale includes Thermal Acoustical Solutions locations in Hamptonville, North Carolina; Yadkinville, North Carolina; St. Nazaire, France; Meinerzhagen, Germany; and Taicang, China.
The transaction should close in the first quarter this year, subject to appropriate labor consultations, regulatory filings, and other customary closing conditions, per the news release.
Alkegen moved its HQ to North Texas in January 2022
Formerly known as Unifrax, Alkegen creates high-performance specialty materials used in advanced applications including batteries, electric vehicles, energy storage, filtration, fire protection, and high-temperature insulation, among many others.
Alkegen originally acquired Thermal Acoustical Solutions as part of the acquisition of Lydall Inc. as Lydall and Unifrax merged in October 2021.
Alkegen moved its corporate headquarters from Tonawanda, New York, to Williams Square at Las Colinas in Irving, Texas, as it rebranded in January 2022. Currently, it has some 60 manufacturing facilities and over 9,000 employees worldwide.
Alkegen is backed by Clearlake Capital Group LP, an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. California-based Clearlake has an office in Dallas.
Alkegen’s new filtration products
Last September, Alkegen announced the launch of its first new filtration products under its new brand name.
“This is the first of many innovations we expect to deliver as our portfolio evolves to meet the continuous demand for ever-higher efficiency and reduced energy consumption,” Paul Vallis, President of the Filtration & Catalysis Group said in a statement at the time.
Launched out of the Alkegen High-Efficiency Filtration Business, the new trio of filtration products — including one for air, one for liquid, and one for molecular applications — is just the “first wave of advanced materials developed and released under our new Alkegen filtration product development team,” the company said.
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