PLYMOUTH (WWJ) — Plymouth-based Humanetics Innovative Solutions Inc. and affiliated companies Wednesday announced their acquisition by Golden Gate Capital, a San Francisco private equity firm.
The companies had been owned by Chicago-based Wynnchurch Capital.READ MORE: ACLU Sues Michigan State Police, Claims Racial Profiling, Black Drivers Pulled Over More
Terms of the transaction weren’t disclosed, but Humanetics officials said that unlike most other private equity firms, Golden Gate builds businesses in partnership with management over an indefinite time horizon. Humanetics will continue with its current leadership team.
Humanetics, a division of Safety Technology Holdings Inc., has been developing crash test dummies — technically, called biofidelic anthropomorphic test devices — and related sensor measurement systems and software since the technology was first introduced in the 1950s.
Today, Humanetics’ suite of crash test dummies, sensors, calibration, test equipment, services and software incorporate the latest biomechanical human simulations for the development and certification of occupant safety protection technologies.READ MORE: Woman Finds 95-Year-Old Message In A Bottle In Michigan
Affiliated companies include Hitec Sensor Solutions Inc. and Sensor Developments Inc.
Said Christopher J. O’Connor, president and CEO of STH and Humanetics: “Golden Gate Capital has exhibited a full understanding of Humanetics’ social responsibility and offers long-term backing to support the ‘next 60 years’ of continued product and regulatory growth for our customers worldwide.”
Said Golden Gate Capital managing director Rajeev Amara: “Industrial technology, specifically test, measurement and sensors, is a rapidly growing and highly fragmented industry. We look forward to partnering with management to help build STH into one of the most comprehensive test measurement and sensor companies in the world.”MORE NEWS: Here's A List Of Bills Gov. Whitmer Signed Into Law Thursday