FEDERAL-MOGUL’S INTERIOR LIGHTING BUSINESS HAS BEEN ACQUIRED BY CHONGQING BOAO INDUSTRIAL CO., LTD
Birmingham, Michigan – January 24, 2018 – Angle Advisors is pleased to announce that Chongqing Boao Industrial Co., Ltd (“Boao”) has acquired the interior lighting business from Federal-Mogul Corporation (“Federal-Mogul”). Angle Advisors acted as the exclusive investment banking advisor to Federal-Mogul in completing this transaction.
Based in Sparta, Tennessee, the interior lighting business (the “Business”) is a leading manufacturer of high quality interior lighting assemblies and components for a broad array of vehicular applications. The Business’ product offering includes overhead lamps, door and floor lamps, LED ambient lighting, distributed lighting and trunk/under-hood lamps which are sold to light vehicle OEMs and Tier I suppliers. The Sparta facility consists of 140,000 ft2 of vertically integrated manufacturing space including injection molding, automated assembly and testing capabilities and bulb manufacturing. In addition, the Business is supported by a 30,000 ft2 state-of-the-art technical center located in Ann Arbor, Michigan.
Federal-Mogul is a leading global supplier of products and services to the world’s manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation, and industrial markets. The company’s products and services enable improved fuel economy, reduced emissions, and enhanced vehicle safety. Federal Mogul operates two independent business segments, each with a chief executive officer reporting to Federal-Mogul’s Board of Directors. Federal-Mogul Powertrain designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial, and transport applications. Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 of the world’s most recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, chassis, wipers, and other vehicle components. Federal mogul was founded in Detroit in 1899. The company employs 45,000 people in 34 countries. For more information, please visit www.federalmogul.com.
Based in Chongqing, China, Boao is a leading supplier of LED lighting systems, electronic sensors, printed circuit boards, and controllers to automotive original equipment manufacturers.
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 184 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.