Autokiniton Global Group, LP (Formerly Tower International, Inc.)

Company Profile

■URL

https://www.autokiniton.com/

■Address

17757 Woodland Drive, New Boston, MI 48164, USA

Business Overview

-The Company is a leading North American manufacturer of automotive structural components and assemblies. The Company supplies stampings, frames and structural designs, and complex welded assemblies for a range of vehicles sizes including small cars, pickup trucks, and minivans, and a range of powertrains including both EVs and ICE vehicles.

-The Company acquired Tower International Inc. on September 30, 2019, and merged it with L&W Group, which was acquired in May 2018, to form the second largest Body-in-White and vehicle frame supplier in North America.

Shareholders

-The Company is a private company, which was formed in 2018 by KPS Capital Partners in partnership with George Thanopoulos (Chairman & CEO).

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Products

Body structures and assemblies
-Stampings

Body pillars
Roof rails
Side members
Crossmembers
Floor panels
Intrusion beams

-Class A surfaces

Body sides
Hoods
Doors
Roofs
Fenders
Pickup truck boxes
Tailgate frames and panels

-Crash management systems

Side rails
Front and rear crash beams

Complex body-in-white assembly
-Front and rear floor pan assemblies
-Door assemblies
-Pillar assemblies

Chassis and lower vehicle structures
-Stampings

Exterior structures
Structural components
Chassis assemblies
Engine cradles
Suspension cradles
Floor pan components
Cross members

-Full frames

Pickup truck frames
Truck frames
SUV frames

-Sub-frames and structural crossmembers

Steel sub-frames and assemblies
Aluminum sub-frames and assemblies

Suspension components
-Control arms
-Suspension links
-Track bars
-Spring and shock towers
-Shackles
-Twist axles
-Radius arms
-Stabilizer bars
-Trailing axles
-Brackets
-Suspension cradles

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History

May 2018	Established by KPS Capital Partners in partnership with George Thanopoulos (Chairman & CEO).
May 2018	Acquired L & W, Inc., a leading Tier 1 automotive supplier, specializing in metal stampings, welded assemblies, and tubular products.
Jul. 2019	Entered into an agreement to acquire Tower International, Inc., a leading manufacturer of structural metal automotive components and supplier of metal stampings, welded assemblies, frame structures, and chassis structures.
Sep. 2019	Completed the acquisition of Tower International. Together with the capabilities of L&W Group, it creates the second largest Body-in-White and vehicle frame supplier in North America.

Supplemental Information 1

Joint Ventures of Tower International, Inc.

Mar. 2000	Invested USD 2.1 million in the formation of a product technology and development joint venture with Defiance Testing & Engineering Services, Inc., a subsidiary of GenTek Inc. The Joint venture, DTA Development, located in Westland, Michigan, will provide the Company with product-testing services.
Jan. 2001	20% partnership formed with Carron Industries, thereby expanding prototyping capabilities in the U.S.A.

M&A of Tower International, Inc.

Apr. 1993	Acquired its predecessor, R.J. Tower Corp.
May 1994	Acquired Edgewood Tool and Manufacturing Company and its affiliate Ann Arbor Assembly Corp.
May 1994	R.J. Tower Corporation was renamed Tower Automotive.
Jun. 1994	Acquired Kalamazoo Stamping and Die Company for approx. USD 12.3 million in cash.
Jan. 1996	Acquired the Trylon Corporation, a wholly owned subsidiary of MascoTech, Inc.
Apr. 1997	Acquired and assumed substantially all of the assets and liabilities of Automotive Products Company, a division of A.O. Smith Corporation. The aggregate purchase price consisted of approximately USD 625 million in cash.
May 1997	Acquired Societa Industria Meccanica e Stampaggio S.p.A. ("Simes") for approximately USD 50 million in cash.
Mar. 1998	Acquired 40% equity interest in Metalurgica Caterina S. A., Brazil. In addition, the Company also will have the right to acquire the remaining 60% of the equity in the Company in the future.
Jul. 1998	Acquired IMAR s.r.l. and Oslamt S.p.A. adding to the Company's European presence.
Aug. 1998	Sold its hinge business to Dura Automotive Systems, Inc. for net proceeds of approximately USD 36.9 million.
Jul. 1999	Acquired Active Tool Corporation and Active Products Corporation for total approximate consideration of USD 315 million.
Nov. 1999	Acquired a 49% equity interest in Seojin Industrial Company Ltd. for USD 21 million.
Jan. 2000	Acquired all of the outstanding shares of Dr. Meleghy GmbH & Co. KG Werkzeugbau und Presswerk, Bergisch Gladbach for approximately USD 86.4 million.
May 2000	Acquired Algoods Inc. for a total consideration of approximately USD 33 million.
Jul. 2000	Acquired the remaining 60% equity interest in Metalurgica Caterina S.A. for approximately USD 42 million.
Sep. 2000	Acquired a 17% equity interest in Yorozu Corporation, a supplier of suspension modules and structural parts to the Asian and North American automotive markets, from Nissan Motor Co. Ltd.
Nov. 2000	Acquired Strojarne Malacky, for a total consideration of approximately USD 10 million.
Dec. 2000	Sold its Roanoke, Va., heavy truck rail manufacturing business to its joint venture partner, Metalsa S. de R.L., for USD 55 million.
Feb. 2001	Exercised the right to purchase the additional equity interest in Yorozu Corporation and will pay Nissan approximately USD 30 million over two and a half years for the additional 13.8 percent interest.
Mar. 2004	Sold its 30.76% interest in Yorozu Corporation (Japan) to Yorozu, through a share buy-back transaction on the Tokyo Stock Exchange and received USD 57 million from the transaction.
Mar. 2004	Acquired the remaining shares of Seojin Industrial Company Ltd. of South Korea, and now owns 100% of the company. Previously, it held a 66% equity interest in Seojin.
Dec. 2012	Sold Korean subsidiary Seojin Industrial Company Ltd. to SJ holdings, Inc., a subsidiary of SECO and received USD 47 million for the transaction.
Nov. 2018	Signed MoU for the sale of all of the Company’s European operations to Financiere SNOP Dunois S.A. (FSD) for EUR 255 million.
Sep. 2019	Sold its business to Autokiniton Global Group (AGG).