Aurora sees $160m profit in auto exit

The Los Angeles buyout firm has agreed to sell auto assembly components company, Autocam, to Goldman Sachs and Transportation Resource Partners.

Los Angeles middle-market buyout firm Aurora Capital today announced a successful end to its five-year investment with automotive assembly company, Autocam, through a $390 million (€323 million) sale to a group comprised of GS Capital Partners and Transportation Resource Partners.

Aurora acquired Autocam in 1999 through a public-to-private transaction valued at $230 million. During Aurora’s stewardship of Autocam, the company’s revenue grew to $323 million from $203 million, according to a press release.

Autocam, headquartered in Kentwood, Michigan, designs ‘close tolerance, metal components and assemblies’ for automotive applications, according to the release. The company has facilities in North America, France, Brazil and China.

Adrian Jones led the deal for GS Capital, the private equity division of Goldman Sachs. Transportation Resource is a $265 million private equity fund led by Roger Penske, chief executive officer of Penske Corporation, a transportation-services holding company. John Kennedy, the ongoing CEO of Autocam, also participated in the transaction.