Lincoln International Represents Century Plastics in its Transaction with Autometal, S.A., the Brazilian Publicly-Traded Subsidiary of CIE Automotive
Lincoln International LLC (“Lincoln”), a leading global middle market investment bank, has announced that Century Plastics, Inc. (“CPI” or the “Company”) has completed a transaction under which Autometal, S.A. (“Autometal”), a Brazilian publicly-traded subsidiary of the Spanish component group CIE Automotive, S.A. (“CIE”), has acquired a 65% shareholding in the Company.
CPI is a leading designer and manufacturer of high-quality injection molded and compression molded assemblies for the vehicle interior, including seat, window and door trim, rear cargo assemblies, seat backs, cup holders, structural and carpeted load floors and more. Founded in 1999 and based in Shelby Township, Michigan, CPI has experienced rapid growth and offers a wide range of products to its long-standing blue-chip customer base.
Greg Avsharian, Founder and CEO of CPI, stated “This is an exciting step in the development of CPI, and we are looking forward to working closely with CIE and benefitting from access to greater resources to continue to grow the Company. Our customers will also appreciate the global footprint CIE brings and in particular the ability to serve our North American customers in Mexico.”
Mark Simon, COO of CPI, commented, “Lincoln’s execution and the quality of their advice and guidance throughout the process were outstanding. Lincoln’s strong global relationships and deep understanding of our business were invaluable during the process.”
Robert Satow, Managing Director and Co-Head of Lincoln’s Global Automotive & Truck Group, commented, “We are delighted to have had the opportunity to work with Century Plastics and CIE Automotive on this important transaction and look forward to continuing to work with the Company as it executes its growth strategy. This is the first Brazil-US transaction we have completed in the automotive space, and it coincides with the opening of our São Paulo office.”
Lincoln International acted as the exclusive financial advisor to CPI, working closely with the Company throughout the process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
About Century Plastics
Headquartered in Shelby Township, Michigan, CPI is a leading designer and manufacturer of high-quality injection molded and compression molded plastic interior components used primarily in the North American automotive industry. For more information, please visit www.centuryplastics.com.
About Autometal and CIE Automotive
Autometal is the publicly-traded, Brazilian subsidiary of CIE Automotive which engages in the design, manufacture and sale of components and sub-assemblies to the automotive markets in Brazil and Mexico. Selected products offered by the company include cockpit assemblies, armrests, reinforcements, center consoles, pillars, seat components, hubcaps, gas caps, emblems, ribs and other external decorative parts. Autometal was founded in 1964 and is headquartered in Diadema, Brazil. For more information, please visit www.autometal.com.br.
CIE Automotive engages in the design, manufacture and sale of components and sub-assemblies to the automotive market worldwide. It offers engine and powertrain products, interior and exterior trims, chassis and steering products, roof systems and more. The company is also involved in the production of biofuel. CIE Automotive was founded in 1996 and is headquartered in Bilbao, Spain. For more information, please visit www.cieautomotive.com.
About Lincoln International
Lincoln International specializes in merger and acquisition advisory services, debt advisory services, private capital raising and restructuring advice on mid-market transactions. Lincoln International also provides fairness opinions, valuations and pension advisory services on a wide range of transaction sizes. With thirteen offices in the Americas, Asia and Europe, Lincoln International has strong local knowledge and contacts in key global economies. The firm 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.
About Lincoln International's Global Automotive & Truck Group
Lincoln International’s Global Automotive & Truck Group specializes in automotive component transactions in the mid-market. The group’s highly integrated, international team of M&A professionals has extensive experience advising the leading Tier I suppliers in the industry, as well as privately-held and private equity owned companies supplying automotive components, systems and services. Lincoln International’s Global Automotive & Truck Group has now advised on 40 transactions since the beginning of 2010. Selected corporate clients of Lincoln International in the automotive and truck industry include Alcoa, Amerigon, Bosch, Cummins, Delphi, Freudenberg, Johnson Controls, Trelleborg, Tyco Electronics, Valeo and Wanxiang.
More information about Lincoln International can be obtained at www.lincolninternational.com
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