Detroit entrepreneur Vinnie Johnson, chairman and CEO of the Piston Group, has acquired Irvin Automotive Products, creating one of the largest privately owned automotive supplier groups in Michigan.
Johnson’s expanded Piston Group of companies is expected to post record sales of more than $1.8 billion in 2016 with 8,300 employees at 15 facilities in the United States and Mexico. Other companies in the group include Piston Automotive, Detroit Thermal Systems and AIREA Inc.
Headquartered in Pontiac, Michigan, Irvin is a manufacturer of interior trim and seating material. A wholly owned subsidiary of Takata, the company has annual sales of $500 million with facilities in Del Rio, Texas; Acuna, Mexico; and Sabinas, Mexico.
Piston Group customers include FCA US, Ford, General Motors, Honda, Toyota and ZF. Irvin Automotive adds Black Diamond, Delta Airlines, Golden Technologies, Nissan and Southwest Airlines to the group’s customer list.
“Our vision is to become a fully integrated global supplier,” said Johnson. “The purchase of Irvin Automotive strengthens our engineering and manufacturing expertise and will allow us to provide a concept-to-completion platform across the automotive industry and other diversified industries as well.
“With our eyes on the future, we believe that Irvin will play a significant role in the double-digit growth we expect to achieve over the next several years. It’s a company that shares our dedication to quality, teamwork and customer service,” he said.
Johnson said Irvin Automotive will operate as a separate company within the Piston Group, adding that Irvin’s President Joseph Finn, along with his management team, will continue to lead the company. Financial terms of the acquisition were not disclosed.
Finn noted that his management team was excited about the growth opportunities that will open up for Irvin Automotive under the Piston Group umbrella.
“Vinnie Johnson has quietly built a strong, well-managed company that has become a trusted partner to many global customers,” said Finn. “Our employees are looking forward to being part of the organization that he’s created.”
