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SALE OF TIANHAI ELECTRIC NORTH AMERICA

TIANHAI ELECTRIC NORTH AMERICA HAS BEEN ACQUIRED BY ANGSTROM AUTOMOTIVE GROUP


Birmingham, Michigan – June 22, 2022 – Angle Advisors served as exclusive investment banking advisor to Tianhai Electric North America, Inc. (“TENA” or the “Company”) on its sale to Angstrom Automotive Group, LLC (“Angstrom”).

Headquartered in Pontiac, MI, TENA is a global provider of battery cables and wire harness assemblies for the automotive and heavy truck industries. Serving both OEM and tier 1 customers, TENA provides design, engineering, manufacturing, testing, and cross-border logistics. TENA’s strategic footprint includes engineering and sales in Pontiac, Michigan, low-cost manufacturing in Mexico, and a logistics warehouse in El Paso, Texas. This footprint positions the Company to serve its customers as vehicular electrification increases and new in-vehicle functionality expands. Angstrom appreciated TENA’s ongoing role in the ICE product space, as well as its transitioning role on hybrid and electric vehicles. TENA, now doing business as Angstrom Electric, is well positioned for the long-term future under its new ownership in both the ICE and EV spaces.


“TENA is very excited to embark on our new chapter with Angstrom as our new strategic partner. Angle Advisors’ ability to understand TENA’s business, and work through the inflationary costs and supply chain headwinds TENA suffered was vital for the execution of this successful transaction” said Bill Zhuang, past President & CEO of TENA and current President & CEO of Angstrom Electric. “Identifying a strategic partner such as Angstrom and distilling the many moving parts of TENA’s business showcased Angle’s significant experience in both the vehicular industry and with complex and distressed transactions.”


The acquisition reinforces Angstrom’s wide product portfolio and OEM/regional presence in North America and sales into Europe. Angstrom’s combination of operational excellence, complementary products, and strong customer relationships present an ideal fit for TENA’s future success as it continues to evolve with the push for more electric vehicles.


Angstrom is a full-service supplier for automotive and industrial OEMs. Founded in 1999, Angstrom offers a diversified automotive product portfolio with vertically integrated manufacturing capabilities. Angstrom has 13 manufacturing locations across North America and Europe. Core manufacturing processes includes stamping, welding, assembly, plastic injection molding, steel and aluminum forging, aluminum high and low pressure die casting, tubular fabrication, and machining. Angstrom has extensive turnaround experience and has proven its business model by successfully turning underperforming businesses into profitable businesses. For additional information please visit www.angstrom-usa.com.


Angle Advisors, with offices in the United States, Germany, 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 258 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.


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