Houlihan Lokey Advises Inteva Products

Houlihan Lokey is pleased to announce that Inteva Products LLC, owned by The Renco Group, Inc., has sold its Roof Systems product line to CIE Automotive S.A. The transaction closed on May 6, 2019.

Headquartered in Dietzenbach, Germany, Inteva's Roof Systems product line is one of the world market leaders for automotive sunroofs. The company has more than 4,400 employees and generates sales of approximately $1 billion. The Roof Systems business operates 16 manufacturing facilities and six R&D centers in seven countries including the United States, Mexico, Germany, Slovakia, Romania, China, and India. Its customer portfolio includes Volkswagen, Daimler, and BMW, with a significant share of Chinese manufacturers as well.

The Roof Systems product line transaction demonstrates Houlihan Lokey's capabilities advising on complex carve-out transactions. Inteva Products remains a global supplier of engineered components and systems for the automotive industry based in Troy, Michigan. Product lines include Closure Systems, Interior Systems, and Motors and Electronics.

The Renco Group is a family-owned, private holding company that makes long-term investments in companies across a range of industries. The Renco Group's affiliated operating companies generate revenue in excess of $5 billion while employing more than 17,000 people around the world.

CIE Automotive is one of the leading European automotive suppliers. In 2018, CIE generated revenue in excess of $3.4 billion with a workforce of more than 23,000 people and 98 production facilities. CIE's product portfolio includes forgings, castings, machined parts, and roof systems, among others. The company's customer portfolio includes renowned Tier 1 suppliers and OEMs such as Chrysler, Daimler, GKN, Volkswagen, Jaguar, and Tesla.

Houlihan Lokey served as the exclusive financial advisor to The Renco Group and Inteva Products, and assisted in structuring and negotiating the transaction.