DAYCO COMPLETES DIVESTITURE OF PROPULSION SOLUTIONS DIVISION

Birmingham, MI & Boca Raton, FL, May 9, 2024 – Dayco Incorporated (“Dayco”), a portfolio company of Hidden Harbor Capital Partners, today announced the divestiture of its Propulsion Solutions division to Aurelius Private Equity.

Following the divestiture of Propulsion Solutions, Dayco is a leading global aftermarket distributor and manufacturer of belts and related timing products, primarily for the light-duty and heavy-duty aftermarket and new vehicle markets.

“This transaction is a big achievement for our team and allows us to focus on our core competency in aftermarket distribution and belt manufacturing. The Dayco team looks forward to continuing to deliver world class products and services to our Aftermarket and OEM customers,” said Dayco CEO Craig Frohock.

Dayco was advised by McDermott, Will & Emery as legal counsel and Rothschild & Co and Lincoln International as financial advisors. Aurelius Private Equity was advised by Woodward Park as financial advisor.

About Dayco

Dayco is a global leader in the research, design, manufacture and distribution of essential engine drive systems and aftermarket services for automotive, truck, construction, agriculture and industrial applications.

Dayco’s 100+ years of experience in drive systems allows the company to equip all customer applications around the world with the most effective drive systems to meet customer specific performance requirements. Dayco’s world class global distribution network services the aftermarket industry with a full offering of kits and products to meet each local market’s need. Dayco accomplishes this with a dedicated global team that respects one another, shows humility through continuous learning and acts like owners in everything they do.

For more information about Dayco, visit the company’s website at www.dayco.com.

About Hidden Harbor Capital Partners

Hidden Harbor Capital Partners is a private equity firm which helps create business success stories by building teams focused on execution. We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives. Hidden Harbor currently manages over $800 million of equity capital and is investing out of its second fund, a $450 million vehicle. To learn more, visit www.hh-cp.com and our page on LinkedIn.

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Media Contact

Julia Bennett: (904) 534-4468 / jbennett@hh-cp.com