SOUTHFIELD—Aludyne, the Southfield-based auto supplier, announced that it had purchased the CastLight divison of Valley City, Ohio-based Shiloh Industries. Terms were not disclosed.
Officials at Aludyne said the acquisition will diversify its customer base and add new facilities in the US, Netherlands, Poland and China. With the acquisition of Shiloh Industries’ CastLight business, Aludyne expands its product offering with high integrity, thin-walled components used in electrified drivetrains, e-motor housings, battery trays and automotive structural components.
“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 Partners LLC and KPMG acted as financial advisors to Aludyne and Honigman LLP acted as its legal counsel.
Aludyne manufactures aluminum and iron vehicle components for safety critical applications, including chassis, subframe, and electric vehicles. The company and its people are committed to lightweighting and its ability to enable vehicles that improve fuel economy, reduce emissions, and help lower carbon footprints around the world. It operates 21 manufacturing facilities and four technical centers in nine countries, employing approximately 3,500 people. For further information, please visit: www.Aludyne.com.