Angle Advisors has served as exclusive investment banking adviser to Tianhai Electric North America Inc. (TENA) on its sale to Angstrom Automotive Group LLC.
Headquartered in Pontiac, Michigan, TENA is a global provider of battery cables and wire harness assemblies for the automotive and heavy truck industries. Serving both OEM and tier 1 customers, TENA provides design, engineering, manufacturing, testing and cross-border logistics. TENA’s strategic footprint includes engineering and sales in Pontiac, Michigan, low-cost manufacturing in Mexico, and a logistics warehouse in El Paso, Texas. This footprint positions the company to serve its customers as vehicular electrification increases and new in-vehicle functionality expands.
According to Angle Advisors, Angstrom appreciated TENA’s ongoing role in the ICE product space, as well as its transitioning role on hybrid and electric vehicles. TENA, now doing business as Angstrom Electric, is well positioned for the long-term future under its new ownership in both the ICE and EV spaces. Angstrom is a full-service supplier for automotive and industrial OEMs. Founded in 1999, Angstrom offers a diversified automotive product portfolio with vertically integrated manufacturing capabilities
“TENA is very excited to embark on our new chapter with Angstrom as our new strategic partner. Angle Advisors’ ability to understand TENA’s business, and work through the inflationary costs and supply chain headwinds TENA suffered was vital for the execution of this successful transaction,” said Bill Zhuang, past president and CEO of TENA and current president and CEO of Angstrom Electric. “Identifying a strategic partner such as Angstrom and distilling the many moving parts of TENA’s business showcased Angle’s significant experience in both the vehicular industry and with complex and distressed transactions.”
The acquisition reinforces Angstrom’s wide product portfolio and OEM/regional presence in North America and sales into Europe. Angstrom’s combination of operational excellence, complementary products, and strong customer relationships present an ideal fit for TENA’s future success as it continues to evolve with the push for more electric vehicles.
