Stadco Automotive has been sold to Magna International
Lincoln International (“Lincoln”), a leading global mid-market investment bank has advised on the sale of Stadco Automotive Limited (“Stadco” or the “Company”) to Magna International Inc. (“Magna”). Terms of the transaction were not disclosed and closing of the transaction is subject to regulatory approval.
Stadco is a major international supplier of body-in-white (“BIW”) products and services to a range of automotive OEMs including Jaguar Land Rover, Ford Motor Company and General Motors. The Company has industry-leading expertise in the supply of aluminum stampings and is the largest independent Tier 1 BIW supplier in the U.K. with four facilities. Stadco has an additional facility in Germany which is a major supplier of complex assemblies to Ford. In total, the Company employs about 1,400 staff.
Greg MacLeod, Chief Executive Officer of Stadco, said: “We hired Lincoln because of their depth of expertise in the automotive industry and their relationships with strategic acquirers in the stamping space. This transaction represents exactly what we wanted to achieve for Stadco: the transition of the business to a new owner with greater ability to support the future growth of the business. The acquisition by Magna will provide further opportunities for the business and our employees to flourish and marks the start of an exciting new period in the company’s development.”
The transaction is expected to close in the fourth quarter of 2015 and is subject to a number of customary conditions, including regulatory approvals.
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