Southfield-based vehicle component supplier Aludyne has acquired the CastLight division of Ohio’s Shiloh Industries. Terms of the transaction were not disclosed.
The acquisition of CastLight, which has a sales and technical center in Plymouth Township and a manufacturing facility in Alma (west of Saginaw), strengthens and expands Aludyne’s position as a lightweighting solutions provider, according to Aludyne. The combined entity is expected to generate pro forma revenue of more than $1 billion.
“We welcome the CastLight employees in North America, Europe, and Asia to the Aludyne team,” says 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.”
In addition to the Plymouth Township and Alma locations, CastLight has facilities in Auburn and Princeton, Ind.; Pleasant Prairie, Wisc.; Clarksville, Tenn.; the Netherlands, Poland, and China.
The addition of CastLight will enable Aludyne to further diversify its customer base and expands its product offering with high-integrity, thin-walled components used in electrified drivetrains, e-motor housings, battery trays, and automotive structural components.
Aludyne manufactures aluminum and iron vehicle components for safety critical applications, including chassis, subframe, and electric vehicles. It operates 21 manufacturing facilities and four technical centers in nine countries, employing approximately 3,500 people.
The company says it is committed to lightweighting and its ability to help vehicles improve fuel economy, reduce emissions, and assist in lowering carbon footprints around the world.
Current Capital Partners and KPMG acted as financial advisors to Aludyne and Honigman LLP acted as its legal counsel.