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SALE OF CASCADE ENGINEERING EUROPE

CASCADE ENGINEERING EUROPE HAS BEEN ACQUIRED BY TI FLUID SYSTEMS


Birmingham, Michigan – November 9, 2023 – Angle Advisors is pleased to announce that Cascade Engineering, Inc. in Grand Rapids, Michigan has completed the sale of its wholly-owned subsidiary, Cascade Engineering Europe (“CEE”), to TI Fluid Systems (LON:TIFS), a leading global supplier of automotive fluid systems. Angle Advisors acted as the exclusive investment banking advisor to Cascade Engineering, Inc. and CEE in completing this transaction.

Located in Budapest, Hungary, CEE is a leader in the design and manufacturing of thermal fluid connectors and other complex plastic injection molded components for the automotive industry. The business has a strong reputation for its technical expertise and product quality, with in-house capabilities from design and development to tooling, prototyping and serial manufacturing. CEE’s over 300 team members operate out of a single campus with 6,500m2 of manufacturing, engineering, and administrative facilities.


Christina Keller, CEO of Cascade Engineering, Inc., said, “Our CEE team members have showed entrepreneurship at its finest, growing this organization from the early days of making small trinkets to what it is today as a leader in the fluid connector business and adopter of industry 4.0 technologies, while along the way adhering to the values of triple bottom line and demonstrating servant leadership. Today, this strategic move allows for greater opportunity for CEE in alignment with a large multinational organization and is a smart move for Cascade Engineering as it allows us to focus on our core.” Keller adds, “I also want to recognize the fortitude of Angle Advisors, it has been a rigorous process across 2 continents with language and regulation differences and many factors that were managed well to the end to achieve an outstanding result for all of the stakeholders.”


Hans Dieltjens, President and CEO of TI Fluid Systems, said, “Our acquisition of CEE is tangible evidence that we are delivering on our electrification strategy and taking the turn. By integrating CEE’s operations and expertise into our global business, we are growing our market share in thermal fluid connectors for electric vehicles – a critical segment for us. I would like to extend a warm welcome to CEE’s staff, and we look forward to working alongside them as we continue to follow our growth strategy.”


Cascade Engineering is a family-owned global manufacturing company based in Grand Rapids, Michigan. Cascade is a leading manufacturer specializing in large tonnage plastic injection molding and provides services to a broad diversity of markets including automotive, environmental services, office furniture, and polymer compounding. As a Triple Bottom Line organization and nationally recognized innovator in sustainable business practices, Cascade exemplifies the key role business can play in building financial, social, and environmental capital. With more than 1,000 employees in the United States, Cascade is one of the largest Certified B Corps in the world. For additional information, please visit www.cascadeng.com.


TI Fluid Systems is a global innovator of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Serving all major automotive manufacturers, with more than 100 years of automotive supply experience; TI Fluid Systems operates across 28 countries with a commitment to improving efficiency, performance and sustainability worldwide. For additional information, please visit www.tifluidsystems.com.


Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 287 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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