DELPHI AGREES TO SELL ITS THERMAL OFF-HIGHWAY & SPECIAL APPLICATIONS BUSINESS TO WEBASTO
Birmingham, Michigan – March 14, 2012 – Angle Advisors is pleased to announce that Delphi Automotive Systems, LLC (“Delphi”) has agreed to sell its thermal off-highway and special applications business unit (“Diavia” or the “Business”) to the Webasto Group (“Webasto”). Angle Advisors acted as the exclusive investment banking advisor to Delphi in managing this transaction.
Based in Molinella, Italy, Diavia is a leading supplier air conditioning systems for off-highway vehicles, as well as aftermarket air conditioning systems, mobile refrigeration, and spare parts for commercial vehicles. The Business’ products include HVAC modules, control heads, compressors, condensers, evaporators, oil coolers, blowers and fans, and hoses. With a broad distribution network across Europe, Africa, and the Middle East, the Business serves off-highway applications, including agriculture, construction, and specialty vehicles, as well as light commercial applications, including minibuses, ambulances, medium-duty trucks, and specialty vehicles. Customers include John Deere, Claas, Argo, Eberspacher, and Dometic Waeco. The Business operates from a manufacturing facility totaling 44,000 m2 across four buildings, with approximately 160 employees. Production capabilities include plastic thermoforming, CNC cutting, assembly, and distribution.
Delphi Automotive Systems, LLC (www.delphi.com) is a leading global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets. Delphi is one of the largest vehicle component manufacturers, and its customers include the largest automotive original equipment manufacturers in the world.
The Webasto Group (www.webasto.com) is based in Stockdorf, Germany, and has been a family-owned business since the company’s founding in 1901. Internationally, Webasto has more than 50 locations, including over 30 production plants, dedicated to the Roof and Heating Systems business sectors. Webasto is one of the top 100 automotive suppliers worldwide. For 2011, Webasto anticipates €2.3 billion in revenue, employing over 9,500 people. The company's core competencies include the development, production and sales of complete roof and convertible roof systems, as well as heating, cooling and ventilation systems for passenger cars, recreational vehicles, boats, as well as commercial and special-purpose vehicles.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in a variety of industries including the truck, trailer, and off-road vehicle sector. The firm’s 32 professionals provide mergers and acquisitions, capital raising and debt advisory services to multinational corporations, privately-held companies, private equity funds and public sector clients. For additional information please visit www.angleadvisors.com.