TrueNorth Capital Partners acted as financial advisor to Asahi Kasei Corporation on its acquisition of Sage Automotive Interiors from Clearlake Sage Holdings, the 100% owner of Sage and a portfolio company of Clearlake Capital Group.
Asahi Kasei supplies Lamous brand microfiber suede to Sage, and the two companies have a long-standing mutually beneficial business relationship. Sage has established a strong presence among vehicle manufacturers and Tier-1 suppliers based on its comprehensive proposal capabilities, advanced design capabilities, and processing technology related to automotive interior material.
The acquisition will strengthen Asahi’s position in the growing automotive interior-related market, contributing to the expansion of its automotive-related business.
The total acquisition price including Sage’s net interest-bearing debt is $1.06 billion.
TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of middle-market financial advisory services.
