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SALE OF AUTRANS INGERSOLL

SPENCER BUTCHER GROUP HAS ACQUIRED THE AUTRANS INGERSOLL OPERATIONS FROM SOJITZ CORPORATION


Birmingham, Michigan – July 11, 2018 – Angle Advisors is pleased to announce that Autrans Corporation, a wholly owned subsidiary of Sojitz Corporation of Japan, has sold its Ingersoll, Canada value added assembly operations (“Autrans Ingersoll” or the “Company”) to Butcher Engineering Enterprises, Ltd., a holding of the Spencer Butcher Group. Angle Advisors acted as the exclusive investment banking advisor to Autrans Corporation in completing this transaction.


Based in Ingersoll, Ontario, Canada, Autrans Ingersoll is the sole third-party just-in-time (JIT)/just-in-sequence (JIS) assembler of front-end sub-frame assemblies, delivering the fully-dressed “super-cradle module” directly to the adjacent production line of a major North American automotive manufacturer. The “super cradle module” consists of the fully-dressed engine (accessories, belts, hoses, harnesses, sensors), transmission, steering mechanisms including steering gear, corner modules (strut, steering knuckle, hub and brake components), and associated linkages, anti-roll stabilization, drive shafts (for front and all-wheel drive variants) and the cooling module (radiator, fan, hoses, and air deflectors).


“For the past 29 years and five generations of vehicle platforms we have enjoyed a successful relationship with our customer. As Sojitz shifts its strategic focus, we are pleased that the business, our loyal employees, and our customer will be in good hands with the production expertise and technical capabilities of Butcher Engineering,” said Mr. Susumu Ishii, Vice President of Autrans Corporation. “It has been our pleasure to be a part of the Ingersoll community and we thank our customer, our employees, and our neighbors for making it all possible.”


Mr. Greg Spencer, CEO of Spencer Butcher Group commented, “Autrans’ Ingersoll operation is an excellent fit for our growth strategy and adds high complexity, high volume manufacturing to our existing sequencing, sorting, logistics, and low volume, high complexity manufacturing operations. We welcome the experienced team in Ingersoll to the Spencer Butcher Group family of companies and look forward to both what we will bring to Ingersoll and what the Ingersoll team will add to our capabilities.”


Mr. Ishii added, “Sojitz and Autrans would like to thank the team at Angle Advisors for their diligence and persistence in getting this deal done. They did an outstanding job of completing an exhaustive global sale process and found the right partner to achieve our goals. Their industry knowledge and relationships, along with their transaction expertise proved critical to making this a highly successful transaction.”


Sojitz Corporation, headquartered in Tokyo, Japan, was formed through the union of Nichimen Corporation and Nissho Iwai Corporation, both companies that boast incredibly long histories. For more than 150 years, their business has helped support the development of countless countries and regions. Today, the Sojitz Group consists of approximately 400 subsidiaries and affiliates located in Japan and throughout the world, generating total sales of more than US$40 billion with a market capitalization of more than US$5 billion.


Spencer Butcher Group is a 75-year-old, family-owned group of companies headquartered in Windsor, Ontario, Canada which provides innovative 3PL Material Integration Solutions for packaging, warehousing, reverse logistics, sequencing, sub-assembly and containment.


Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the industrial and vehicular sectors. The firm's professionals have completed 193 transactions since 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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