WUXI GISSING AUTO PARTS HAS ACQUIRED CONFORM GROUP
Birmingham, Michigan – November 11, 2016 – Angle Advisors is pleased to announce that Wuxi Gissing Auto Parts Co.,Ltd. (“Gissing”) has made a strategic investment in ConForm Technologies, LLC, Detroit Technologies, LLC and DTI Enterprises, LLC (collectively “ConForm Group” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to ConForm Group in completing this transaction.
Based in Bingham Farms, Michigan, ConForm Group is one of North America’s leading manufacturers of needlepunch non-woven fabrics and polyester staple fibers, premium quality sheets, roll goods, and custom thermoformed products for the automotive industry. ConForm Group’s vertically integrated operations offer a wide range of products including textile wheel well liners, load floors, underbody shields, interior trim parts, non-woven fabric, and fiber. The Company’s manufacturing capabilities include performance and high-quality non-woven, deep drawn thermoformed parts. ConForm Group has over 650 employees and four manufacturing facilities.
Steve Phillips, Chief Executive Officer of ConForm Group, commented, “We are very excited to have Gissing as a strategic partner. Gissing will not only enhance our product offering but also expand our capabilities. We could not be more excited about this investment and partnership and what it means to our customers and employees. We would also like to thank the team at Angle Advisors. They did an outstanding job of guiding us through this process and finding us the best possible global partner. Their industry and transaction expertise proved critical to making this a highly successful transaction.”
Ian Liu, Group Vice President and General Manager of Gissing, added, “We are thrilled to make a strategic investment into ConForm Group. By partnering with ConForm we expect to accomplish many great things for our customers and employees. Through this partnership, we will expand our footprint into North America to grow ConForm’s NVH capabilities and leadership position in the market.”
Wuxi Gissing Auto Parts Co.,Ltd., founded in 1993, is a leading provider of interior and exterior acoustic parts to the automotive industry. Headquartered in Wuxi, China, Wuxi Gissing Auto Parts Co.,Ltd. has six facilities and has been authorized over 360 patents. For more information, please visit www.gissinggroup.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 168 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.