RIVIERA TOOL, LLC HAS BEEN ACQUIRED BY TESLA MOTORS, INC.
Birmingham, Michigan – May 8, 2015 – Angle Advisors is pleased to announce that Tesla Motors, Inc. has acquired substantially all the assets of Riviera Tool, LLC (“Riviera”). Angle Advisors acted as the exclusive investment banking advisor to Riviera in completing this transaction.
Based in Grand Rapids, Michigan, Riviera is a leading full service tool and die manufacturer. Riviera provides line, transfer, and progressive die systems for the production of stamped metal components used in automotive, heavy truck, and military vehicle applications. The company’s capabilities extend across small, medium, and large dies and cover virtually all major body-in-white components from frame rails, pillars, and cross-members to closure panels. From its 170,000 square foot state-of-the-art manufacturing facility, Riviera utilizes an extensive array of try-out presses with sizes up to 1,000 tons and employs approximately 100 highly skilled and technical employees.
Tesla Motors, Inc. (NasdaqGS:TSLA), founded in 2003 by a group of engineers and headquartered in Palo Alto, California, is a leading international designer, developer, manufacturer, and retailer of electric vehicles, electric vehicle powertrain components, and stationary energy storage systems. Tesla has an established global network of sales and services centers in addition to supercharger stations. Additionally, the company provides development services to develop electric vehicle powertrain components and systems for other automotive OEMs. Tesla also produces and sells stationary energy storage products for the commercial, residential, and utility segments with backup power, peak demand reduction, demand response, and wholesale electric market service applications. Currently, the company primarily operates from its facilities in Fremont and Lathrop, California, with an additional facility in Tilburg, Netherlands. For additional information, please visit www.teslamotors.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 139 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.