M&A Deal Summary

Ford Motor Acquires Myine Electronics

On September 26, 2013, Ford Motor acquired electronics company Myine Electronics from Beringea for 9M USD

Acquisition Highlights
  • This is Ford Motor’s 1st transaction in the Electronics sector.
  • This is Ford Motor’s 3rd largest (disclosed) transaction.
  • This is Ford Motor’s 2nd transaction in the United States.
  • This is Ford Motor’s 1st transaction in Michigan.

M&A Deal Summary
Date 2013-09-26
Target Myine Electronics
Sector Electronics
Buyer(s) Ford Motor
Sellers(s) Beringea
Deal Type Add-on Acquisition
Deal Value 9M USD
Advisor(s) Pagemill Partners
Duff & Phelps Corp. (Financial)

Target

Myine Electronics

Ferndale, Michigan, United States
Myine Electronics LLC (dba Livio Radio) is a is the developer of products and software to support smartphone/car connectivity. Its products include Bluetooth Internet radio car kits for iPhones and Android phones.

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Buyer(S) 1

Buyer

Ford Motor

Dearborn, Michigan, United States
Category Company
Founded 1903
Sector Automotive
Employees173,000
Revenue 176.2B USD (2023)
DESCRIPTION
Ford Motor Company's corporate headquarters in Dearborn, Michigan.
Ford Motor Company's corporate headquarters in Dearborn, Michigan.

Ford Motor produces and sells automobiles under the Ford and Lincoln brands. In addition to the products Ford sells to dealerships for retail sale, the Company also sells vehicles to dealerships for sale to fleet customers, including commercial fleet customers, daily rental car companies, and governments. Ford Motor also sells parts and accessories, primarily to dealerships and to authorized parts distributors. Through its dealerships, Ford Motor also offers extended service contracts to retail customers. Ford Motor was founded in 1903 and is headquartered in Dearborn, Michigan.

DEAL STATS #
Overall 5 of 12
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 4 of 9
State (Michigan) 1 of 1
Country (United States) 2 of 7
Year (2013) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-10 Ford Motor - iCONNECT Direct DMS Business

Canada

The DealerTrack/Ford of Canada relationship began in 2008 when the companies announced they will offer a full-featured, web-based DMS, using white-labeled DealerTrack software. Currently, that solution is widely available to many Ford of Canada dealers across the country.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-02 OEC

Richfield, Ohio, United States

OEC is a global automotive technology provider for OEM distribution networks. OEC's suite of eCommerce, pricing, supply chain, service, business intelligence, parts cataloging, data solutions, and services helps automakers and their dealer networks sell more OE parts in the collision, fleet, mechanical and retail segments, as well as dealers’ own service lanes. OEC was founded in 2000 and is based in Richfield, Ohio.

Buy -

Seller(S) 1

SELLER

Beringea

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 715M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Beringea LLP is a private equity firm focused on growth-oriented company investments in the Midwest US and the UK. Beringea looks to invest $2 to $10 million of equity or junior capital in profitable companies with 5 million and higher in revenue. Funds are used to support business expansions and growth, ownership transitions, leveraged buyouts, recapitalization, and refinancings. The Firm does not have any sector preferences and generally seeks businesses with proven business models and defensible market positions. Beringea was formed in 1988 and is based in London.

DEAL STATS #
Overall 4 of 42
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 2 of 27
State (Michigan) 4 of 8
Country (United States) 4 of 17
Year (2013) 4 of 4
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-03 Delphinus

Novi, Michigan, United States

Delphinus is a provider of breast ultrasound tomography imaging device that provides no radiation, no compression, and is not dependent on operator skills. Delphinus is committed to creating improved imaging methods that assist medical professionals to better define and diagnose breast disease, while establishing a better patient experience that can be available for all women, regardless of age, without the concern of radiation or pain. Delphinus was founded in 2010 and is based in Novi, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 Pulpitum

London, United Kingdom

Pulpitum Limited is an acquistion platform company, established with the objective of trading as a digital company, which will look to acquire attractive businesses within the digital sector.

Buy -
Mergr

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