RADAR INDUSTRIES, INC. HAS BEEN ACQUIRED BY SHILOH INDUSTRIES INC. (NASDAQ:SHLO)
Birmingham, Michigan – October 2, 2014 – Angle Advisors is pleased to announce that Shiloh Industries Inc. (“Shiloh”) has acquired Radar Industries, Inc. (“Radar” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to Radar in completing this transaction.
Based in Warren, MI, Radar is a leading provider of stamped interior, chassis and powertrain components and welded assemblies for the automotive industry. Radar operates three stamping plants, including two in Warren, MI, and one in Celaya, Mexico, along with a sales and technical center also in Warren, MI. With presses ranging from 300 to 2200 tons, Radar forms the latest metal technologies such as ultra high strength steels, dual phase and trip steels, high carbon, stainless steel, and aluminum steel. The Company is recognized as a leader in welding, including mig, tig, laser, projection and resistance. In total, Radar is comprised of approximately 325 employees.
Dave Zmyslowski, President of Radar Industries said, "Radar Industries has been a leader in large tonnage metal forming and assembly, tool design and engineering services. My family and I are proud to have been part of growing the business started by my father nearly 60 years ago. We would like to thank the team at Angle Advisors for their experience and hard work in finding us the ideal steward for Radar and strategic partner for the transaction. We couldn’t have navigated a highly confidential sale process without their help and are looking forward to being part of the future success of Shiloh Industries."
"Radar Industries is a perfect addition to Shiloh's strategic lightweighting portfolio," said Ramzi Hermiz, President and CEO, Shiloh Industries. "To broaden our best-in-class portfolio even further, we actively seek solutions that address industry pinch points, such as large tonnage stamping capacity and tool & die capability. This acquisition is another way for us to better service our growing global customer base, and adds to our strong technology position, customer diversification and geographic needs by complementing our existing stamping, laser welding, aluminum and magnesium die casting footprint," he added.
Headquartered in Valley City, Ohio, Shiloh Industries is a leading global supplier of lightweighting and NVH solutions to the automotive, commercial vehicle and other industrial markets. The company offers the broadest portfolio of lightweighting solutions in the industry, capable of delivering solutions in steel, steel alloys, aluminum and magnesium. Shiloh delivers these solutions through design, engineering and manufacturing of first operation blanks, engineered welded blanks, complex stampings, modular assemblies and highly engineered aluminum and magnesium die casting and machined components serving the body-in-white, emission, powertrain, structural and seating needs of OEM and Tier 1 customers. Shiloh has locations across Asia, Europe and North America and approximately 3,000 employees. For additional information, please visit www.shiloh.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 35 professionals have completed 120 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.