American Securities LLC, a leading U.S. private equity firm, today announced that it has entered into a definitive agreement to sell SeaStar Solutions ("SeaStar" or the "Company") to Dometic Group (STO: DOM) ("Dometic") for $875 million. Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation, and Food & Beverage. The transaction is expected to close in the fourth quarter of 2017, and is subject to customary closing conditions and regulatory approvals.
SeaStar is a leading, global provider of vessel control, fuel systems and system integration to the marine industry. The Company is the market leader in its key product areas with strong market shares. SeaStar today operates some of the strongest brands in the market, such as SeaStar, xtreme, MOELLER, Optimus, and Sierra. The Sierra aftermarket platform is the world's largest independent marine aftermarket parts supplier. SeaStar is based in Litchfield, IL, operates 8 facilities, and employs approximately 1,250 people.
