WALKER DIE CASTING AND C&R TOOL HAVE BEEN ACQUIRED BY ALLISON TRANSMISSION
Birmingham, Michigan – September 16, 2019 – Angle Advisors is pleased to announce that Allison Transmission Holdings (“Allison”) has acquired Walker Die Casting Inc. (“Walker”) and C&R Tool and Engineering, Inc (“C&R Tool”). Angle Advisors acted as the exclusive investment banking advisor to both Walker and C&R Tool in completing this transaction.
Based in Lewisburg, Tennessee, Walker is the one of North America’s largest independent die casters. Founded in 1958, Walker is a leading Tier I/II designer and manufacturer of cast aluminum products to the automotive, heavy truck, agriculture, construction, marine, and medical industries. Walker’s portfolio of large, complex castings, weighing up to 75 pounds, includes transmission cases, bell housings, accessory brackets, transaxle housings, fly wheel covers, and camshaft housings. Totaling over 750,000 of square feet, Walker’s modern manufacturing operations are outfitted with the latest high pressure die casting machines, ranging in size from 1,000 to 4,500 tons, and a fleet of vertical and horizontal CNC machining centers.
Headquartered in Muscle Shoals, Alabama, C&R Tool is a leading North American designer and manufacturer of complex high-pressure die cast molds serving OEMs and Tier I suppliers. Specializing in large, complex multi-slide large cavity part designs, C&R Tool engineers, builds and tests integrated tooling systems primary for automotive and heavy truck powertrain component applications.
John Walker, President and son of the founder of Walker Die Casting, commented, “While it is always hard to let go of the business you built, we are proud that it will remain in good hands with Allison Transmission.” He continued, “as a long-time owner of a private business and having never experienced a sale process, I genuinely appreciated Angle’s patient, thoughtful approach in guiding us through the many nuances and complexities associated with a M&A transaction. Angle’s significant die casting and machining experience as well as deep knowledge of our end markets proved invaluable throughout the process from planning and preparation to finding creative solutions to business and accounting issues as they arose along the way.”
“We are delighted to announce the acquisitions of Walker Die Casting and C&R Tool and Engineering,” said Allison Transmission President and CEO David S. Graziosi. “Walker’s products are a critical component in the manufacture and quality of our on-highway transmissions. We plan to grow the business and continue the heritage established by Robert Walker in 1958.”
Allison Transmission (NYSE: ALSN) is the world’s largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles. Allison transmissions are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy. Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a market presence in more than 80 countries, Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the U.S., Hungary and India. Allison also has approximately 1,400 independent distributor and dealer locations worldwide. For more information, visit www.allisontransmission.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm’s professionals have completed 216 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.