Current Capital Advises Aludyne on its Acquisition of Shiloh Industries’ CastLight Business
Southfield, Michigan, April 13, 2021 – Current Capital is pleased to announce that Aludyne, Inc., a global automotive lightweighting solutions provider, has acquired Shiloh Industries’ CastLight business, consistent with Aludyne’s lightweighting strategy. Terms of the transaction were not disclosed.
Headquartered in Southfield, Michigan, Aludyne is a leading global vertically integrated manufacturer (with both casting and machining capabilities) and supplier of aluminum and iron components, including steering knuckles, control arms, sub-frames and assemblies. Aludyne has a strategically positioned global footprint in all major markets including North America, South America, China and Europe. Aludyne is the number one manufacturer of aluminum knuckles globally, with leading market shares in several regions across the world and entrenched in blue-chip OEM customer relationships.
CastLight is a global innovative-solutions business focused on lightweighting technologies that provide environmental and safety benefits to the mobility market. The company designs and manufactures a full portfolio of body structure, chassis, and powertrain system components, fabricated from a variety of alloys in aluminum, magnesium and steel grades. CastLight operates nine facilities across the United States, Europe, and China.
The CastLight acquisition strengthens and expands Aludyne’s position as a lightweighting solutions provider. With the acquisition, Aludyne will further diversify its customer base and add new facilities in the US, Netherlands, Poland and China; expand its product offering with high integrity, thin-walled components used in electrified drivetrains, e-motor housings, battery trays and automotive structural components; enable further growth in e-mobility components; and add key technologies and processes in aluminum and magnesium casting.
“We welcome the CastLight employees in North America, Europe and Asia to the Aludyne team,” said Andreas S. Weller, President and CEO of Aludyne. “Together we are a stronger company delivering innovative solutions to the mobility industry and meeting the needs of our customers globally.”
The combined entity is expected to generate pro forma revenue of over $1 billion.
Current Capital advised Aludyne on the acquisition, providing senior attention, deep automotive expertise and financial analysis, and execution services. The transaction was negotiated outside of an auction process, following the sale of Shiloh to MiddleGround Capital in late 2020 in a Chapter 11 bankruptcy.
“Current Capital provided outstanding advice and support. I very much appreciate their experience and sound advice in a very challenging process to buy the CastLight assets. They helped us successfully navigate and avoid many potential pitfalls. We could not have executed this transaction without their support.” added Mr. Weller.
About Current Capital Partners
Current Capital Partners LLC is an independent advisory and merchant banking firm focused primarily on the industrial and services sectors. We provide mergers and acquisitions advisory services, corporate management services, and private equity investing. The mergers and acquisitions advisory effort offers high-quality financial advisory services – including actionable ideas, buy-side and sell-side execution, strategic and capital structure reviews, restructuring advisory and related services – for corporate and investment firm clients seeking industry expertise, an independent perspective and senior attention. In our management services effort, we manage investments, provide restructuring advice, sit on Boards of Directors and provide related consulting services for other investors and financial institutions; and offer advice and expert witness services in complex corporate litigation. Our private equity investing business helps create value, primarily in lower middle market and smaller companies, with an integrated operating, finance and investment approach. Our Advisory Board and Executive Network are important advantages for our clients. Learn more at www.currentcap.com.
Jonathan F. Foster
Telephone: +1 212 223 0618