Walbro Appoints New President and CEO

April 22 -- Headquartered in Tuscon, Ariz., Walbro Engine Management, the world’s largest carburetor manufacturer and leading supplier of ignition, fuel delivery and storage components and systems, announced April 20 the appointment of Matthew Riddle as president and chief executive officer. He will immediately assume responsibilities and succeed Tony Martin, who has stepped down.

Riddle, 48, is a seasoned international executive, having served operational and leadership roles at FMC Corporation, United Defense Industries Inc., BAE Systems Inc., and most recently as president of Raytheon International Inc. During his tenure at Raytheon, Riddle helped grow its international business almost two-fold.

“I am honored by the opportunity to lead Walbro into its next chapter, continuing our focus on the customer and our drive on improving performance” said Riddle. “Walbro has tremendous talent, a long legacy of innovation, and a unique position of strength in ignition- and fuel-system solutions. I look forward to working closely with our leadership team and employees worldwide to drive profitable growth through solutions that help our customers achieve competitive advantage.”

A patented inventor, Riddle is active with the Boy Scouts and sits on the board of the National Philharmonic. He holds a Bachelor of Science in Mechanical Engineering from California Polytechnic State University. Riddle is married with three children, and his interests include his family, the outdoors, reading, automobiles, hunting and fishing.

Steve Noe    www.outdoorpowerequipment.com  

Walbro Engine Management Plant in Cass City, MI Plans to Expand

Cass City, WI -- July 25 -- A Michigan Strategic Fund grant to Walbro Engine Management LLC will help the business expand in Cass City and create 28 new jobs.

The company plans to invest about $4.2 million in its facility with help from a $165,000 grant.

Walbro Engine Management was established in 1950 in Fenton and relocated to Cass City in 1954. It is a manufacturer of carburetors, ignition systems, fuel storage systems, and other components for power equipment, marine, and recreational applications.

Those interested in employment opportunities with Walbro should visit www.walbro.com/careers.

“Walbro Engine Management has been in Cass City for 60 years, and I’m proud that they chose to expand and create jobs right here in the Thumb,” said State Rep. Terry Brown (D-Pigeon) noting the company chose its Cass City location for the expansion over a competing site in Mexico. “This is a great example of state and local officials working together with businesses to support the local economy and improve our communities.”

“This grant is excellent news for Cass City,” said U.S. Rep. Candice Miller (R-Harrison Township). “I applaud this grant to help Walbro Engine Management LLC with their expansion, and I believe it will have a significant economic impact on the community.”

The Michigan Strategic Fund was created in 1984 to promote economic development and create jobs in Michigan.

Cass City Village officials also offered Walbro a 12-year property tax abatement.

Mary Drier        www.michigansthumb.com

The Carlyle Group Acquires Walbro Engine Management

TOKYO, Sep 24 -- Global alternative asset manager The Carlyle Group announced that it has acquired 100% of the outstanding shares of Walbro Engine Management, a global small engine parts manufacturer, from Sun Capital Partners. Terms of the transaction were not disclosed. Equity for the investment comes from Carlyle Japan Partners II.

Headquartered in Tucson, Arizona, Walbro is the world's largest manufacturer of carburetors and a major manufacturer of fuel and air management components mainly targeted at the outdoor power equipment industry. Walbro has significant sales, R&D, and production capabilities in Japan and the United States, and also has manufacturing facilities in Thailand, China and Mexico.

Mr. Tony Martin, Chief Executive Officer, Walbro Engine Management, said, "Walbro supports worldwide markets with the aim to be the industry leader in the global small engine market by anticipating customer needs and delivering innovative solutions to a world that demands a cleaner environment. This transaction is consistent with our aim to satisfy increasing global market demands and we plan to leverage Carlyle's global network to pursue further growth."

"I am proud of the efforts of Walbro employees around the world in developing, manufacturing and marketing innovative products that add value to our company and position Walbro for the next level of growth with the support of The Carlyle Group," Martin added. "The resources of The Carlyle Group will help us continue to serve our customers with the products and technology they need to meet today's environmental and business challenges."

Mr. Kazuhiro Yamada, Managing Director and Co-Head of Carlyle Japan, said, "Walbro is led by a strong management team with outstanding global presence. We will harness Carlyle's global network and financial resources to help Walbro expand to the next stage of product innovation and realize global growth."

About Walbro Engine Management

Founded in 1950 and headquartered in Tucson, Arizona, Walbro Engine Management is the world's largest manufacturer of carburetors and a major manufacturer of ignition systems, fuel injection and air/fuel management components, and fuel storage and delivery components for engines targeted at outdoor power equipment, marine, recreational and two-wheel applications. Walbro Engine Management employs 2,200 people in facilities in the United States, Japan, Thailand, China and Mexico. Please visit www.walbro.com

           

About The Carlyle Group

The Carlyle Group is a global alternative asset manager with $156 billion of assets under management across 99 funds and 63 fund of fund vehicles as of June 30, 2012. Carlyle's purpose is to invest wisely and create value. Carlyle invests across four segments - Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions - in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,300 people in 32 offices across six continents. www.carlyle.com

              

About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in more than 300 companies worldwide with combined sales in excess of $45 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com          

Walbro Adding Capacity in Michigan and Thailand for Non-Automotive Gas Tanks

TUCSON, ARIZ. – August 15 -- Walbro Engine Management is adding production capacity in North America and Asia to blow mold multi-layer fuel tanks for non-automotive customers who must meet new emissions standards.

The Tucson, Ariz.-based company added a third blow molding machine at its Cass City, Mich., plant earlier this year, and will bring in a fourth machine during the fourth quarter of this year, the company said in an Aug. 12 news release.

In addition, it is building a new blow molding plant in Chonburi, Thailand, for customers in the Asia-Pacific region. The plant will launch production by the end of this year with one line and is designed for expansions as needed, with capacity for multiple machines.

Walbro began making six-layer plastic tanks in 2007, and turned out its one millionth tank in 2010. It expects to make 1 million tanks in 2011 alone and double that capacity in 2012 on its way to making 3 million tanks in 2013.

The company was once the small engine division of Walbro Corp., which was purchased by TI Automotive in 1999. TI later spun off the smell engine group in a sale to Sun Capital Partners Inc. in 2007, and the private financial group established Walbro Engine Management as an independent firm.

The U.S. Environmental Protection Agency and some state air quality boards are requiring improved emission controls from non-automotive gasoline-powered engines such as those on recreational equipment and lawn mowers. Walbro’s multi-layer tanks meet those standards, which is driving demand for its products, said Chris Quick, global fuel systems director for Walbro.

Walbro also makes complete tank systems with fuel pumps, filtration, valves and hoses along with carburetors, ignition systems and other small engine parts.