M&A Deal Summary

Torque Capital Group Acquires BorgWarner - REMY Light Vehicle Aftermarket Business

On October 3, 2016, private equity firm Torque Capital Group acquired automotive company BorgWarner - REMY Light Vehicle Aftermarket Business from BorgWarner for 80M USD

Acquisition Highlights
  • This is Torque Capital Group’s 2nd transaction in the Automotive sector.
  • This is Torque Capital Group’s largest (disclosed) transaction.
  • This is Torque Capital Group’s 4th transaction in the United States.
  • This is Torque Capital Group’s 1st transaction in Michigan.

M&A Deal Summary
Date 2016-10-03
Target BorgWarner - REMY Light Vehicle Aftermarket Business
Sector Automotive
Buyer(s) Torque Capital Group
Sellers(s) BorgWarner
Deal Type Divestiture
Deal Value 80M USD

Target

BorgWarner - REMY Light Vehicle Aftermarket Business

Auburn Hill, Michigan, United States
BorgWarner's REMY Light Vehicle Aftermarket Business is a provider of automotive products and services.

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Buyer(S) 1

Buyer

Torque Capital Group

New York, New York, United States
Category Private Equity Firm
Founded 2011
Size Small
Type Sector Agnostic
DESCRIPTION

Torque Capital Group LLC is a specialist private equity firm that seeks small to mid-sized manufacturing companies throughout the US. The Firm looks to invest in companies generating revenues up to $500 million and EBITDA of less than $35 million. Specific areas of interest include automotive, building products, aerospace/defense and consumer/retail. Torque Capital Group LLC was founded in 2011 and is based in New York City.

DEAL STATS #
Overall 4 of 7
Sector (Automotive) 2 of 3
Type (Divestiture) 1 of 2
State (Michigan) 1 of 1
Country (United States) 4 of 7
Year (2016) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-01 Brake Parts

McHenry, Illinois, United States

Brake Parts (BPI) is a global brake system products manufacturer and supplier to the transportation industry. The BPI brake product offering includes brake pads, shoes, rotors, drums, calipers, hydraulic parts and wheel hubs. The Raybestos brand of brakes has over a 100 year heritage and are used by premier NASCAR motorsports teams such as Joe Gibbs Racing and Roush Fenway Racing. Brake Parts was founded in 1988 and is based in McHenry, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-31 Maval

Twinsburg, Ohio, United States

Maval is a manufacturer, remanufacturer, and distributor of steering systems, components, and specialty products to the automotive service, original equipment power sports, and off-road specialty vehicle markets. Maval was founded in 1987 and is based in Twinsburg, Ohio.

Buy -

Seller(S) 1

SELLER

BorgWarner

Auburn Hills, Michigan, United States
Category Company
Founded 1987
Sector Automotive
Employees39,900
Revenue 14.2B USD (2023)
DESCRIPTION
BorgWarner's corporate headquarters in Auburn Hills, Michigan.
BorgWarner's corporate headquarters in Auburn Hills, Michigan.

BorgWarner is a global supplier of highly engineered automotive systems and components primarily for powertrain applications. The Company's products help improve vehicle performance, fuel efficiency, stability and air quality. These products are manufactured and sold worldwide, primarily to original equipment manufacturers of light vehicles, vans and light trucks. The Company's products are also sold to other OEMs of commercial vehicles and off-highway vehicles. BorgWarner also manufactures and sells its products to certain Tier One vehicle systems suppliers and into the aftermarket for light, commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in the Americas, Europe and Asia and is an original equipment supplier to every major automotive OEM in the world. BorgWarner was founded in 1987 and is based in Auburn Hills, Michigan.

DEAL STATS #
Overall 5 of 8
Sector (Automotive) 3 of 6
Type (Divestiture) 4 of 7
State (Michigan) 2 of 2
Country (United States) 3 of 5
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-13 Remy International

Pendleton, Indiana, United States

Remy International, Inc. is a manufacturer, remanufacturer, and distributor of alternators, starter motors, and electric traction motors for the automotive and commercial vehicle industry marketed under the Remy® and Delco Remy® brands.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-17 Sevcon

Tyne and Wear, United Kingdom

Sevcon, Inc. is a provider of control and power solutions for zero-emission, electric and hybrid vehicles. Its products control on- and off-road vehicle speed and movement, integrate specialized functions, optimize energy consumption and help reduce air pollution. Sevcon's Bassi Division produces battery chargers for electric vehicles; power management and uninterrupted power source systems for industrial, medical and telecom applications; and electronic instrumentation for battery laboratories. The company supplies customers from its operations in the U.S., U.K., France, Germany, Italy, China and the Asia Pacific region, as well as through an international dealer network.

Buy $200M
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