Sensata Technologies Holding plc (NYSE:ST) completed the acquisition of Dynapower Corporation from Pfingsten Executive Fund IV, L.P. funds managed by Pfingsten Partners, L.L.C. for approximately $620 million.
July 11, 2022
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Sensata Technologies Holding plc (NYSE:ST) entered into a stock purchase agreement to acquire Dynapower Corporation from Pfingsten Executive Fund IV, L.P. funds managed by Pfingsten Partners, L.L.C. for approximately $580 million on April 22, 2022. Adam Knudsen, Dynapowers CEO and entire leadership of Dynapower will be joining Sensata. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to complete the transaction early in the third quarter of 2022. Randi C. Lesnick and Evan A. Kanter of Jones Day acted as legal advisor for Sensata Technologies. Brian F. Richards, Jim Smulkowski, Michael S. Wise, Eric R. Keller, Aaron Charfoos, Charles A. Patrizia, Todd M. Schneider, Jill Yung, Ziemowit T. Smulkowski of Paul Hastings LLP acted as legal advisors Dynapower Company, LLC and Cowen Inc. acted as financial advisor to Dynapower.
Sensata Technologies Holding plc (NYSE:ST) completed the acquisition of Dynapower Corporation from Pfingsten Executive Fund IV, L.P. funds managed by Pfingsten Partners, L.L.C. for approximately $620 million on July 12, 2022. As of July 18, 2022, the transaction follows receipt of regulatory approval from all authorities required by the stock purchase agreement. Sensata assumed $38.483 million of liabilities and $4.41 million of cash and cash equivalents of Dynapower.
Sensata Technologies Holding plc is an industrial technology company that develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products. The Company's segments include Performance Sensing and Sensing Solutions. The Performance Sensing segment serves the automotive and heavy vehicle and off-road (HVOR) industries through its development and manufacture of sensors, high-voltage solutions (electrical protection components), and other solutions. The Sensing Solutions segment serves the industrial and aerospace industries through development and manufacture of a portfolio of application specific sensor and electrical protection products used in a range of industrial markets, including the appliance, heating, ventilation, and air conditioning (HVAC), water management, operator controls, charging infrastructure, renewable energy generation, green hydrogen production, commercial aircraft, defense, and others.
Sensata Technologies Holding plc (NYSE: ST) completed the acquisition of Dynapower Corporation from Pfingsten Executive Fund IV, L.P. funds managed by Pfingsten Partners, L.L.C. for approximately $620 million.