PROPER GROUP INTERNATIONAL, LLC HAS SOLD ITS PULASKI, TN MANUFACTURING FACILITY TO LUXIT GROUP
Birmingham, Michigan – January 6, 2023 – Angle Advisors is pleased to announce that LUXIT Group (“LUXIT”), a portfolio company of New Water Capital (“New Water”), completed its acquisition of Proper Group International’s Pulaski, Tennessee manufacturing operation (“Proper Pulaski”). Angle Advisors acted as the exclusive investment banking advisor to Proper in completing the transaction.
Located in Pulaski, Tennessee, Proper Pulaski’s manufacturing operation was founded in 2016 and includes an 88,000 ft2 facility with 140 employees. The operation manufactures and assembles polymer lighting products and active grill shutter veins for the automotive industry. For more information, please visit www.propergroupintl.com.
Michael Mualem, President of Proper Group Manufacturing said, “The acquisition of the lighting business by LUXIT Group is a great fit and exciting opportunity for the Pulaski team. As part of LUXIT Group, additional profitable growth opportunities will be generated based on the strong combined product knowledge and manufacturing technologies.”
“This strategic acquisition further adds to our vertical integration strategy and will also help us reach critical size with key customers,” added Stephane Vedie, LUXIT’s CEO. “We are confident that we will be able to better serve our current customers as well as offer a logistics advantage to new customers that would not have been possible without this next step.”
LUXIT Group is a global automotive lighting supplier. LUXIT’s Tier 1 division is an established North American provider of small lamps and auxiliary lighting, bringing innovative solutions to OEM customers. Its Tier 2 division is a global supplier to lighting, headlamp and rear lamp Tier 1s. With its unique combination of processes and know-how, the Tier 2 offering includes complex die casting, thixomolding, plastic injection, metallization, and electronics assembly. For more information, please visit www.luxitgroup.com.
New Water Capital L.P. is a private equity firm focused on lower-middle market companies in transition, in the consumer, retail and industrial manufacturing and services sectors, with revenues of $30 million to $300 million. New Water Capital's collaborative transaction and operating model is built specifically to support companies in transition, building on their unique cultures and strengths. For more information, please visit www.newwatercap.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 270 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.