Stout announced today that its client, Visteon, has successfully completed the sale of its automotive electronics manufacturing plant and engineering center in La Ferte-Bernard, France (LFB), to American Industrial Acquisition Corporation (AIAC). Stout and Raymond James acted as co-advisors to Visteon on the transaction.
Visteon is a leading global automotive electronics technology supplier, and LFB is known as a center of excellence for the production of highly efficient surface-mounted devices for head-up displays, infotainment and connectivity applications as well as dials and instruments cluster printing for many of the world’s major OEMs. The transaction included the world-class engineering center GECoE consisting of about 40 engineers focused on automotive and aerospace applications. Visteon had originally acquired the company in 2014 as part of the acquisition of Johnson Controls’ automotive electronics business, but ultimately decided to sell due to overlap with other operations.
In a complex carve-out situation that involved various key stakeholders, AIAC has taken over the state-of-the-art facilities, which strengthens the company's footprint in the automotive electronics space. The acquisition also presents AIAC with the opportunity to leverage its existing expertise and customer relationships to build an international automotive electronics group. AIAC is eager to continue the success story with the existing management team and workforce.
Stout’s Investment Banking Group provides mergers and acquisitions (M&A) advice, private capital raising, and other financial advisory services for private equity portfolio companies, closely held or family owned businesses, and divisions of large corporate parents. Stout's dedicated automotive industry practice includes experience with OE suppliers and aftermarket companies. More information on our Automotive industry experience.