Private equity firm Littlejohn & Co is running two separate auctions to sell SunSource Holdings Inc and Henniges Automotive Holdings Inc, whose collective value exceeds $1.2 billion including debt, according to people familiar with the matter. Littlejohn has hired Barclays Plc to explore a sale of SunSource, an Addison, Illinois-based distributor of fluid power and motion control components and systems for industrial processes, people familiar with the matter said this week.Littlejohn has also hired Morgan Stanley to run a sale process for Henniges, an Auburn Hills, Michigan-based supplier of sealing and anti-vibration systems for the automotive market, the people added.Both companies have annual earnings before interest, tax, depreciation and amortization of around $70 million and could each be valued at more than $600 million in a sale, including debt, the people said.The sources asked not to be identified because the talks are confidential. Littlejohn, Barclays and Morgan Stanley declined to comment, while SunSource and Henniges representatives did not immediately respond to requests for comment.
Barclays PLC (Barclays) is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Shares of BCS traded higher by 0.07% or $0.01/share to $14.44. In the past year, the shares have traded as low as $13.96 and as high as $19.59. On average, 2427730 shares of BCS exchange hands on a given day and today's volume is recorded at 2352649.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 2.25% or $0.77/share to $35.05. In the past year, the shares have traded as low as $26.41 and as high as $36.44. On average, 8960430 shares of MS exchange hands on a given day and today's volume is recorded at 8738855.
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