SHILOH INDUSTRIES HAS ACQUIRED CONTECH CASTINGS
Birmingham, Michigan – September 13, 2013 – Angle Advisors is pleased to announce that Shiloh Industries Inc. (“Shiloh”) has acquired Contech Castings, LLC (“Contech” or the “Company”) from Revstone Industries, LLC (“Revstone”). Angle Advisors acted as the exclusive investment banking advisor to Contech and Revstone in completing this transaction.
Based in Southfield, MI, Contech is a leading designer and manufacturer of highly-engineered, fully-machined, lightweight die cast components for the automotive industry. With over 60 years in precision die casting, Contech is a leader in lightweight aluminum rack and pinion housings, structural body-in-white parts, steering column components, axle carriers, suspension components and transmission parts. The Company is one of the largest producers of steering housings in North America, providing the leading technology for these housings in both hydraulic and electronic steering components. The Company has launched the next generation of die cast technology, ThinTech®, which offers maximum weight reduction and strength to complex transmissions which are defining today’s automotive powertrain agenda.
John Didonato, Managing Director of Huron Consulting and Chief Restructuring Officer of Revstone Industries said, “Revstone’ s re-organization is focused upon realizing full value for its assets and those of its operating subsidiaries. Contech was a major technology innovator in the U.S. automotive castings arena, and generated a high level of interest from buyers. Angle Advisors reported to our independent managers weekly without fail, accomplished our value and timing goals with a strategic process, and executed quickly, professionally and seamlessly in concert with the Huron Consulting team.”
"The acquisition adds Contech’s P2000 squeeze casting, ThinTech vacuum casting, and high-pressure conventional die casting capacity and depth to Shiloh’s high-pressure, high-vacuum casting capabilities," said Ramzi Hermiz, president and CEO of Shiloh. "One of the necessary advancements for removing weight from vehicles is going to come through increased optimization of aluminum components, which is driving demand for high-pressure, high-vacuum casting and structural squeeze cast components. It made sense for us to strengthen our technology and add capacity with the acquisition to further enhance our position,” he added.
Headquartered in Valley City, Ohio, Shiloh Industries is a leading provider of lightweighting and noise, vibration and harshness (NVH) solutions to automotive, commercial vehicle and other industrial markets. Shiloh delivers these solutions through design, engineering and manufacturing of first operation blanks, engineered welded blanks, complex stampings, modular assemblies and highly engineered aluminum die casting and machined components serving the body-in-white, emission, powertrain, structural and seating needs of OEM and Tier 1 customers. The company has multiple locations across North America, including in Georgia, Indiana, Kentucky, Michigan, Ohio, Tennessee, Wisconsin and Mexico, and has approximately 1,770 employees. For additional information, please visit www.shiloh.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm's 33 professionals have completed 54 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.
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