28 Mar New Water Capital Recapitalizes Sea Link International
FOR IMMEDIATE RELEASE (Boca Raton, Florida) – An affiliate of New Water Capital, L.P. (“New Water”) has recapitalized Sea Link International, Inc. (“Sea Link”), a leading provider of design support and manufacturer of high-precision automotive lighting components servicing global Tier 1 and OEM customers. Sea Link’s products address the increasingly complex optical pattern, thermal dissipation, structural support, and weight reduction needs of the major automotive companies currently undergoing an industry transition to LED headlamps.
Sea Link, headquartered in Largo, Florida, was founded in 1988 by James McFarland and has been led by CEO Scott McFarland since 1993. Sea Link’s lighting research and manufacturing facilities are located in Shanghai and Kunshun City, China and have the broad capabilities to mold, metallize, stamp and/or die-cast various materials including resin, steel, aluminum and magnesium.
Scott McFarland, CEO of Sea Link noted: “Our partnership with New Water provides Sea Link with the growth capital and international manufacturing expertise needed to further expand and integrate our production capacity and accelerate our product development capabilities to best support our customers.”
“We believe Sea Link has unique technology, strong automotive customer relationships, and a very effective global supply chain needed to support its growth plans,” stated Mark Becker, Partner at New Water. “We are excited to partner with Scott and the rest of the Sea Link management team towards the achievement of their strategic initiatives, and excited to add Sea Link as a platform investment in our inaugural $406 million fund which was closed in 2015,” noted Brian McGee, Partner at New Water.
About New Water Capital
New Water Capital is a private equity firm focused on investing in the lower middle market on companies in transition, or in special situations, with revenues of $30 – $300 million in the consumer products, retail and industrial manufacturing and services industries.
New Water is differentiated through its ability to bring the experience, resources and sophistication of large scale private equity and operations to lower middle market companies where they can meaningfully impact business performance.