Crestview Advisors has acquired ATC Drivetrain from Marlin Equity Partners which acquired the company in August 2012 from GENCO ATC.
ATC Drivetrain (ATC) is a remanufacturer of transmissions, engines, battery packs and related components for light-, medium- and heavy-duty vehicles. The company’s services include process and salvage engineering; warranty root cause analysis and testing; machining for repair and salvage of components; and recycling of non-reclaimable material. ATC Drivetrain serves automotive original equipment manufacturers for both in-warranty and aftermarket products and services. The company’s customers include Ford, Honda, Chrysler, GM, Allison, Subaru, Saab and others. ATC Drivetrain is headquartered in Oklahoma City, OK (www.atcdrivetrain.com).
Joseph Roark will continue to lead ATC as CEO under Crestview ownership. “We are excited about our new partnership with Crestview,” said Mr. Roark. “As an investor with deep experience in backing vehicle suppliers, we believe Crestview will add tremendous value in the next stage of our growth plans and in support of our customers.”
Crestview invests from $100 million to $250 million in companies with enterprise values up to $3 billion. Sectors of specific interest include media, industrials, energy and financial services. The firm will invest in other industries where its relationship network and senior operating capabilities provide an advantage. Crestview, founded in 2004 and headquartered in New York, manages funds with over $7 billion of aggregate capital commitments (www.crestview.com).
“We are excited to be partnering with ATC’s team as they embark on the next phase of the company’s development,” said Alex Rose, a Partner of Crestview and co-head of the firm’s industrials strategy. “We have been greatly impressed by ATC’s service quality, operational acumen, and deeply collaborative customer relationships. We look forward to working with ATC to capitalize on the numerous opportunities in front of the company.”
Marlin, the seller of ATC, invests in businesses that have revenues of $10 million to $2 billion and current profitability is not a requirement. Sectors of interest include software & technology, services, healthcare, consumer, and industrial. The firm is headquartered in Los Angeles with an additional office in London (www.marlinequity.com).
© 2018 Private Equity Professional | February 8, 2018
