Siegel-Robert has sold Siegel-Robert Automotive and renders a fairness opinion to the Board of Directors
Lincoln International, a leading global mid-market investment bank, today announced the sale of Siegel-Robert Automotive (the “Automotive Business”), a division of Siegel-Robert, Inc., to Guardian Automotive, Inc., a division of Guardian Industries Corp., a privately held company headquartered in Auburn Hills, Michigan on May 1, 2008. As part of the transaction, Siegel-Robert, Inc. was reorganized as a wholly-owned subsidiary of Robert Family Holdings, Inc., a newly formed Nevada corporation. Lincoln International acted as the exclusive financial advisor to Siegel-Robert, Inc. in the sale of the Automotive Business and also rendered a fairness opinion to the Board of Directors of Siegel-Robert, Inc. Terms of the transaction were not disclosed.
Headquartered in St. Louis, Missouri, Siegel-Robert, Inc. is the largest plastic chrome plating company in the world and the number one manufacturer of chrome plated plastic parts in North America. Leveraging its extensive molding and electroplating experience, Siegel-Robert, Inc. produces high quality decorative trim products and systems for both automotive and non-automotive customers. The Automotive Business also offers design and engineering, prototyping, tooling development and program development services.
Siegel-Robert, Inc.’s products include chrome plated plastic parts, grilles, door handles, nameplates and other largely exterior trim products. The Automotive Business has strong relationships with the North American “Big Three” (General Motors, Chrysler and Ford) as well as OEM transplants such as Toyota, Honda and Nissan. Additionally, Siegel-Robert, Inc. supplies non-automotive customers such as Whirlpool with chrome plating solutions. The Automotive Business has facilities in the United States, Japan and China.
Lincoln International worked closely with Siegel-Robert, Inc.’s Board of Directors, senior management and shareholders throughout the sale process and performed an in-depth analysis and valuation of the Automotive Business to provide a fairness opinion in connection with the transaction. Services provided by Lincoln International included providing advisory expertise and managing the preparatory, negotiation and due diligence phases of the transaction.
“Lincoln International was an invaluable partner throughout the sale process” said Bernard Burns, Chairman of the Board of Directors for Siegel-Robert, Inc. “Lincoln’s extensive transaction experience and deep knowledge of the automotive industry culminated in an outstanding result for the shareholders of Siegel-Robert, Inc.”
“The fairness opinion rendered by Lincoln exemplifies the growing needs of family owned private companies for independent advice to ensure a fair and quality transaction for family members,” said Patricia Luscombe, Managing Director with Lincoln International and one of the leaders in its fairness opinion practice.
About Robert Family Holdings, Inc.
Following its sale of Siegel-Robert, Inc. (www.siegelrobert.com), Robert Family Holdings, Inc.’s diversified manufacturing businesses include two separate subsidiaries. The company manufactures tape and reel packaging for the semiconductor industry and overpressure and vacuum relief devices, pilot-operated relief valves, blanket gas regulators, flame arresters, and other low-pressure relief products. The company’s headquarters are in St. Louis, Missouri. Manufacturing and distribution facilities are located throughout the United States, Europe, and Asia.
About Guardian Industries Corp.
Guardian Industries Corp. (www.guardian.com), the ultimate parent company of Guardian Automotive, Inc., is a privately held company headquartered in Auburn Hills, Michigan and manufactures glass and other products for commercial, residential, and automotive markets in the United States and Canada. Guardian Industries Corp.’s products include float glass, fabricated glass products, fiberglass insulation, and other building materials, as well as automotive exterior systems.
Guardian Industries Corp. has manufacturing operations in 21 countries across North America, Europe, South America, Asia and Africa. Guardian Industries Corp. divides its business into three segments: automotive products, building products and glass products. Guardian Automotive, Inc. is a Tier-1 automotive supplier that provides complete exterior systems to the automotive industry, including grilles, bezels, liftgate moldings, side windows, glass run channels, door frame moldings and sail panels.
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