Quarton International is pleased to announce that it served as exclusive financial advisor to SRS Industries, LLC, d/b/a Whitehall Industries (“Whitehall,” or the “Company”), in its sale to UACJ Corporation, a comprehensive aluminum manufacturer based in Tokyo, Japan. Whitehall is a vertically integrated extruder and fabricator of complex aluminum components and assemblies for the automotive industry. Over the last five years, Whitehall’s growth far exceeded overall industry growth due to: (i) a focus on difficult-to-manufacture, precision components and assemblies; (ii) expansion into automotive aluminum structural components; and (iii) the opening of new facilities in Kentucky and Mexico, which are in close proximity to customer locations.
Yogen Rahangdale, owner and CEO of Whitehall stated, “Whitehall has tremendous engineering and manufacturing talent, and these capabilities enabled the Company to pursue a number of growth opportunities, particularly related to applications in automotive aluminum structures and panoramic sunroofs. In selecting UACJ, we are partnering with a well-capitalized, multi-national corporation that shares our values and has the resources to further accelerate Whitehall’s growth.” Rahangdale continued, “I would like to thank the team at Quarton International, as their longstanding industry relationships and expert guidance resulted in a highly successful transaction.”
David Cooper, president of Whitehall, and the existing Whitehall management team will remain with the Company and will be involved in executing Whitehall’s long-term strategy. “We are very excited about this acquisition and what it means for our employees and our customers,” Cooper said. “Both Whitehall and UACJ are outstanding companies with solid corporate values and strong product portfolios. We see tremendous growth opportunities for Whitehall as aluminum components continue to gain share within the vehicle as automotive OEMs seek to reduce vehicle weight and emissions.”
Whitehall Industries headquartered in Ludington, Michigan, is a vertically integrated supplier of complex extruded and fabricated aluminum components for the automotive industry. Whitehall’s products include automotive structural components, sunroof guides, convertible top components, running boards, cargo restraints and hydraulic actuator bodies. Whitehall is best known for producing difficult-to-manufacture components while holding tolerances much tighter than industry standards. Whitehall has approximately 800 employees and operates from four manufacturing facilities located in Ludington, Michigan (two); Paducah, Kentucky; and San Miguel de Allende, Mexico.
UACJ, headquartered in Tokyo, Japan, is a comprehensive aluminum manufacturer supplying rolled, extruded, foil, cast and forged products that meet the needs of a variety of industries. UACJ was established in October 2013 when Furukawa-Sky Aluminum and Sumitomo Light Metal Industries integrated their business operations. Both companies have a distinguished history as aluminum producers in Japan. Together, their annual capacity for rolled sheet products exceeded 1 million tons.
January 30, 2019
Finance Monthly Deal Maker Award for Quarton, a Cowen Company
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