MFC Corp. has completed a recapitalization and a buy-up of shares by management. Angle Advisors acted as the exclusive investment banking adviser to MFC in arranging and completing the transaction.
Based in Maumee, Ohio, MFC manufactures highly engineered, patented and proprietary flow-formed and cold-formed components for the automotive, heavy truck, agricultural industries, among others. The company’s components and assemblies are primarily utilized in critical transmission and powertrain applications. Out of its two facilities, including Maumee and its flow-forming operation in Shelby Township, Michigan, the company designs and produces complex products, including pinion carriers, transmission clutch drums, valve bridges, torque converter lugs and carrier assemblies.
Paul Kessler, CEO of MFC, commented, “Our management team at MFC is excited to build on the company’s long track record of innovation and success. We have a confident, new ownership structure with increased liquidity and the incentives in place to invest alongside our growing customers. Through the commitment of a dedicated and experienced workforce, and a cohesive management team, together with the willingness and support of our long-term shareholders, as well as the backing of our friends and colleagues at Angle Advisors, we have taken a major step forward in MFC’s long history of growth. Angle executed an effective and thorough process. Their industry and capital market knowledge was crucial to the success of this transaction. We would also like to thank Key Bank for its important backing and support, both now and for the past many years, as well as Honigman Miller for its problem-solving insights on tax and transactional matters.”
Tom Weinrich, retiring chairman of MFC, added, “Paul Kessler and his management team have led an inspiring re-growth of MFC since 2008. Through continuous investment in technology, engineering and production resources MFC has won numerous customer accolades for excellence in manufacturing and product innovation.”
Angle Advisors, with offices in the United States, Germany, the United Kingdom and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the vehicular and industrial sectors. The firm’s professionals have completed 153 transactions since 2009 for multinational corporations, privately-held companies, private equity funds and public sector clients.