AGM Automotive, a portfolio company of Trive Capital, has acquired substantially all of the assets of Chicago Miniature Lighting, a supplier of LED lighting products to the automotive market. Trive first invested in AGM Automotive in January 2014.
Chicago Miniature Lighting (CML) is a supplier of LED lighting products to the automotive market. The company offers design and engineering, manufacturing, assembly, sequencing, and supply and distribution in all major markets, including North America, Europe, Asia and South America. CML specializes in providing lighting systems, including overhead systems, light pipes, LED ambient lighting and other lighting systems to original equipment manufacturers and Tier I suppliers worldwide. The company was founded in 1910 and has facilities near Detroit in Novi, MI (headquarters) and Costa Rica (www.chml.com).
“Trive is extremely excited about this partnership as we are confident that the AGM/CML combination offers the industry a new market leader in automotive interior lighting. The CML purchase is consistent with Trive’s collaborative approach to enhancing middle-market businesses,” said Trive Partner Chris Zugaro.
AGM Automotive supplies interior components and systems, including interior lighting, overhead console systems, technical textiles, and other interior assemblies to the automotive marketplace. The company provides value-added assembly, warehousing, and in-line vehicle sequencing from facilities located in the United States and Asia. The company is headquartered in the Detroit suburb of Troy, MI (www.agmautomotive.com).
“Successfully completing the Chicago Miniature transaction exemplifies our commitment to rapidly expanding the AGM platform. Now four months into our partnership with AGM, we continue to look for and capitalize on global growth opportunities within interior lighting,” said Trive Vice President Blake Bonner.
Trive Capital invests from $10 million to $60 million in North America headquartered companies with revenues of $30 million to $500 million. Sectors of interest include automotive & transportation; aerospace & defense; building products; construction & infrastructure; consumer goods; energy services; healthcare; manufacturing and industrials; chemicals; distribution; business & professional services; and communications. The firm as founded in 2012 by Conner Searcy, Managing Partner, and Chris Zugaro, Partner. Trive Capital is based in Dallas (www.trivecapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 5-30-14
