Crowne Group LLC has signed a definitive agreement to acquire Trico Products Corp. from funds managed by Kohlberg & Co. Trico will maintain its headquarters in Rochester Hills, Mich., and the current management team, led by Lou Braga, president and CEO, the company said. 
“Trico represents an excellent strategic fit for Crowne due to its balanced mix of business between aftermarket and OEM, potential for manufacturing and distribution synergies, a great infrastructure and management team,” said Stephen Graham, chief financial officer of Crowne. “We are excited to enter into a new phase of our own evolution, and we look forward to working with our new partners as we continue to successfully execute our strategy.”
Trico is a global manufacturer, marketer and distributor of windshield wiper blades, systems and components. The company employs 2,450 people worldwide.
The acquisition is subject to regulatory approvals and should complete within the next few months. Terms of the transaction were not disclosed.
