Angle Advisors has announced the sale of TCR Engineered Components LLC. Angle Advisors acted as the exclusive investment banking adviser to TCR in completing this transaction.
Based in Minneapolis, TCR is a leading manufacturer of highly engineered components that combine cold-forming, precision screw machining and finishing operations to make extremely close-tolerance metal components used in automobiles, recreational and industrial-use vehicles and applications, and building products. Specific component uses include airbag and restraint safety systems, non-auto vehicular hydraulics, specialty air, gas and fluid connectors and window hardware. Operating from a single facility, TCR employs approximately 150 workers.
“Through this sale, TCR will advance its leadership position in close-tolerance metalworking and automotive safety system components. Under the new privately held structure of the purchaser, TCR’s long-term strategies to expand capabilities in critical powertrain and drivetrain automotive systems will be enhanced,” said Wayne Clevenger, managing director at MidMark Capital.
Doug Parker, managing director at MidMark Capital, said, “TCR has evolved over our investment period and become one of the most respected fabricators of components to the automotive safety industry as evidenced by TCR’s selection by Autoliv as one of the first zero defect suppliers in its supply chain. We selected Angle Advisors to help us find the right buyers for this business because of the company’s deep experience in automotive and industrial transactions and we were delighted with the interest generated, the company’s guidance, persistence and hard work. We believe the sale will create new and bigger opportunities for TCR and its employees.”