Houlihan Lokey Advises Shiloh Industries

Houlihan Lokey is pleased to announce the successful sale of Shiloh Industries' (Shiloh) CastLight assets, a portfolio company of MiddleGround Capital LLC (MiddleGround), to Aludyne Inc. (Aludyne). Acquired assets include Shiloh’s Asia, Europe, and North America CastLight facilities. The transaction closed on April 12, 2021.

Shiloh is a global innovative solutions provider focusing on lightweighting technologies that provide environmental and safety benefits to the mobility market. Shiloh has a global network of manufacturing operations and technical centers in Asia, Europe, and North America. Shiloh’s multimaterial solutions consist of a variety of alloys in aluminum, magnesium, and steel grades along with proprietary lines of noise- and vibration-reducing acoustic laminate products. The company delivers these solutions in body structure, chassis, and propulsion systems to original equipment manufacturers and "Tier 1" suppliers in the automotive and commercial vehicle markets. Top customers include GM, FCA, Ford, Tesla, and BMW.

Shiloh’s CastLight business unit provides custom die-casting solutions with a full line of advanced engineered products in both aluminum and magnesium. Additionally, the CastLight business unit offers high-integrity castings integrated with body structure, chassis, and powertrain components, often resulting in a complete assembled system.

MiddleGround Capital is a private equity firm that makes control equity investments in lower middle-market North American companies in the B2B industrial and specialty distribution sectors. It is currently investing out of its first fund. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies.

Aludyne is a leading, global, vertically integrated manufacturer of aluminum and iron cast and machined automotive components, providing custom engineering and manufacturing solutions for safety-critical products. Leveraging regional production in North America, South America, Europe, and China, Aludyne is able to respond quickly and cost-effectively to automakers’ manufacturing needs around the world, offering in-house, full-service solutions. The company’s proven aluminum expertise translates seamlessly when addressing lightweighting, safety, and other global platform trends.

Houlihan Lokey served as the exclusive sellside financial advisor to Shiloh and assisted in initiating, structuring, and negotiating the transaction on MiddleGround Capital’s behalf. The transaction exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the automotive sector.