Hilite

Established plant in China

Ambitious growing automotive business to a truly global leader in innovative products to improve fuel efficiency

Investment date

2011 - 2014

Good to great

2.3x

money multiple

>50% revenue growth from its core business during 3i's ownership including sales to China growing from 0–17% in three years

37%

IRR

New customers won on a global basis with greater global support of existing customers

15%

CAGR 2010-2013 compared to 4.5% industry average

Globally coordinated efforts around R&D with new centres established in the US and China

Key events under our ownership

Managed CEO transition and brought in experienced CFO and COO

Board fully focused on internationalisation: Chair with global sector knowledge and two NXDs – one with US focus and one local in China to develop the Asian market

Relocated HQ from US to Europe

Established state of the art plant in China to support sales in Asia

Fostered the development of a ‘one international Hilite’ culture, allowing for operating efficiency through best practice sharing and a large scale global sourcing improvement initiative

Sold non-core SCR division to Cummins after 12 months to focus on the engine and transmission divisions