CANTON, Ohio—Morgenthaler Private Equity has purchased Canton, Ohio-based automotive supplier DLH Industries Inc., and it is merging DLH with another company it owns, Bowles Fluidics Corp. of Columbia, Md.
Both companies make components for handling automotive fluids, such as hoses and nozzles for windshield washer systems. DLH has expanded into other automotive areas including fully assembled actuation systems for turbochargers, and vacuum brake-assist assemblies.
According to its website, DLH performs plastic extrusion of tubing and custom profiles in thermoplastic elastomers, thermoplastic polyurethane and thermoplastic vulcanizate, among others.
DLH generates annual sales of about $50 million and employs about 600. The company extrudes the tubing and profile extrusion, injection molds fittings and then builds the tubing assembles. DLH, which makes its own tooling, has invested in automated tube forming equipment and all-electric injection presses.
Morgenthaler announced the purchase of DLH on July 14. Terms were not disclosed. An ownership group that included President and CEO John Saxon had owned DLH.
Now the Bowles and DLH management teams will join forces to run dlhBOWLES. Saxon has assumed the role of CEO and Sri Sridhara of Bowles Fluidics is the president.
Saxon said the companies complement each other.
“Given both companies' reputations for providing innovative and high quality engineered plastics and fluid flow solutions, as well as strong customer service and support, we believe our businesses are an excellent fit,” he said in a statement.