EIKO GLOBAL’S AUTOMOTIVE LIGHTING BUSINESS HAS BEEN ACQUIRED BY OLD WORLD INDUSTRIES, LLC
Birmingham, Michigan – August 3, 2015 – Angle Advisors is pleased to announce that Old World Industries, LLC has acquired the automotive lighting business of EiKO Global, LLC (“EiKO”). Angle Advisors acted as the exclusive investment banking advisor to EiKO in completing this transaction.
Based in Shawnee, Kansas, EiKO’s automotive lighting business (the “Business”) is a leading supplier of automotive lamps and lighting products. The Business’ broad product offering includes halogen headlamp capsules, HID headlights, miniature lamps, sealed beams, and other automotive lighting for light vehicle and truck applications.
“Throughout our history, Old World Industries has remained focused on providing our customers the best the market has to offer,” says Kal Mahmood, President and CEO of Old World Industries. “The addition of EiKO automotive lighting offers access to the industry’s best lighting products, while also benefiting from our company’s global distribution services and unmatched support.”
“With automotive lighting products being added to a leading aftermarket player like Old World Industries, moving forward, this will undoubtedly create a stronger opportunity for the automotive business,” said Gary Withers, CEO of EiKO Global. “We would like to thank the team at Angle Advisors for helping execute a successful transaction. Their deep industry relationships in the automotive aftermarket and extensive experience with corporate divestitures were instrumental in helping execute and structure this complicated carve-out.”
Old World Industries, LLC is among the largest privately-held companies competing in the automotive aftermarket. The Northbrook, Illinois-based company enjoys a presence in various consumer product markets in more than 50 countries worldwide. Old World's brands include a full line of PEAK® Automotive Products including Antifreeze Coolant, Motor Oil, Washer Fluid, Electronics and Wiper Blades; BlueDEF® Diesel Exhaust Fluid; Final Charge® Heavy Duty Global Extended Life Coolant; Fleet Charge® Fully Formulated Coolant; and HERCULINER® Truck Bed Liner Kits. For additional information, please visit www.oldworldind.com.
For 35 years, EiKO Global LLC has delivered the industry's best lighting products. Carrying over 5,000 SKUs and the broadest selection of any manufacturer in its class, EiKO is committed to providing innovative products, unique solutions and unmatched support to its customers. Headquartered in Shawnee, KS, with offices in Canada, China, Europe, Korea and Taiwan, EiKO is truly a global presence in the lighting industry. For additional information, please visit www.eiko.com.
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm's 36 professionals have completed 141 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.