Lincoln International Represents Alcoa in Sale of Its Wire Harness and Electrical Distribution Business
CHICAGO, June, 12 2009 – Lincoln International, a leading global mid-market investment bank, advised Alcoa (NYSE: AA) on the divestiture of its wire harness and electrical distribution business (the “Business”) to Platinum Equity. The wire harness and electrical distribution business is the largest part of the Alcoa Electrical and Electronic Solutions business, which Alcoa announced was for sale in January. Lincoln International acted as the exclusive financial advisor to Alcoa.
Based in Farmington Hills, Michigan, the Business is a leading worldwide designer and manufacturer of wire harness and electrical distribution products for major domestic and international automotive, commercial vehicle and specialty vehicle/off-highway original equipment manufacturers such as Ford, Volkswagen, General Motors, PACCAR, Daimler Truck and Harley Davidson and for tier-one suppliers. The Business employs more than 17,500 people and operates in 13 countries around the world.
Lincoln International worked closely with the senior management teams of Alcoa and the Business to complete this transaction. Commenting on the deal, Mike Schell, Alcoa’s Executive Vice President - Business Development and Law, stated “Lincoln International once again exhibited why they have been a valued adviser to Alcoa over the years. In a very difficult economic environment and against the backdrop of very challenging conditions in the automotive industry, Lincoln ran a highly competitive auction process that provided Alcoa with multiple offers for the Business. Their industry knowledge, global capabilities and superior execution were important factors in helping Alcoa to achieve a successful outcome”.
Click here to view Alcoa’s press release announcing the transaction.
This transaction represents the 25th successful assignment completed by Lincoln International’s Global Automotive and Truck Group since the beginning of 2006. In addition to Alcoa, Lincoln has completed automotive and truck transactions for clients that include Bosch, The Carlyle Group, Delphi, Dover Corporation, Johnson Controls and Valeo.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, private capital raising, UK pensions advisory services and providing fairness opinions and valuations for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, London, Los Angeles, Madrid, New York, Paris, Tokyo and Vienna, and strategic partnerships with China Everbright in China and ICICI Securities, Inc. in India, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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