OKLAHOMA CITY, OKLAHOMA – April 30, 2019 – ATC Drivetrain (“ATC”), a leading independent remanufacturer of automotive drivetrain components headquartered in Oklahoma City, Oklahoma, announced today that is has acquired ATP Automotive Transmission Remanufacturing Specialists Limited, A.T.P. Electronic Developments Limited and ATP Holdings USA, LLC (collectively “ATP”) from ATP’s founder Alan Smart. Financial terms of the transaction were not disclosed.
Founded in 1969, ATP is a Cannock, United Kingdom-based leading European independent remanufacturer of automatic transmissions, including torque converters and automated manual transmissions, electronics and mechatronics, as well as a manufacturer of diagnostics systems and providing associated services. ATP’s client base includes various European and global OEMs, and suppliers in Europe and North America.
ATP Founder Alan Smart said, “April 2019 marks ATP’s 50th year in business and I felt it was an appropriate time to secure the next phase of ATP’s continued growth. The exciting combination of ATC and ATP will allow for ATP to increase the ways in which we can serve our customers and secures the future of ATP’s employees, many of whom have over 30 years of service. I am confident that ATC is the right permanent home for my life’s work and will continue to flourish under the leadership of ATC CEO Greg Heald and the rest of the ATC leadership team.”
Greg Heald, ATC’s President and CEO and member of its board of directors, said, “The teams at ATC and our private equity sponsor Crestview Partners have a great deal of respect for Alan Smart and for the decades of hard work he has committed to building ATP as its founder and chairman. Mr. Smart’s vision has driven the growth and evolution of ATP from its beginning 50 years ago to its position today as a leader in the remanufacturing industry.”
Mr. Heald continued, “We are excited to bring together these two companies which not only complement each other in the areas of technology, footprint and customer base, but also share common core values focused on providing market leading service to our customers, team members and shareholders.”
Alex Rose, Partner and Co-Head of Industrials at Crestview Partners, said, “Since our acquisition of ATC in February 2018, ATC’s leadership team and board have been focused on pursuing global expansion and technology diversification in support of ATC’s customers’ needs. The combination of ATC and ATP creates a company with over 130 years of global automotive remanufacturing experience which will expand ATC’s ability to provide products and service to the company’s growing customer base around the world.”
About ATC Drivetrain:
ATC Drivetrain is an Oklahoma City, Oklahoma-based remanufacturer of transmissions and engines 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, as well as recycling of non-reclaimable material. ATC Drivetrain serves automotive original equipment manufacturers for both in-warranty and out of warranty products and services throughout the United States. For more information, please visit www.atcdrivetrain.com.
About ATP:
ATP is a Cannock, England headquartered remanufacturer of powertrain and electronic products for both OEM and aftermarket sectors. ATP is the winner of the prestigious 2016 Queen’s Award for Enterprise in the innovation category. The company’s products and services include remanufacturing automatic transmissions, including torque converters and automated manual transmissions, electronics and mechatronics, as well as manufacturing diagnostics systems and providing associated services. For more information, please visit www.atp-group.com.
About Crestview Partners:
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $9 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, energy and financial services. For more information, please visit www.crestview.com.
Oklahoma City, Oklahoma – 29 January, 2019
ATC Drivetrain is pleased to announce Armin Grossklaus as our new Chief Financial Officer. Armin graduated with his doctorate in business/finance in Germany. He first worked at Porsche in Germany and then also in Atlanta, GA. After that he worked in Automotive IT / ERP and then in Europe and Michigan for Auto tier 1 suppliers GDX / Henniges first as VP Finance Europe & Asia, and then Global Treasurer. Most recently he worked as CFO for the North American organization of Benteler Automotive who is a Tier 1 supplier for Structures, Chassis, Exhaust and Modules.
Armin residences in Oklahoma City and Lake Orion, Michigan. Armin and his wife Heather love their 2 little dogs, cooking and travel. He also enjoys watersports, fishing, history and science.
Armin was born in Germany where he grew up – in Berlin, and stills follows soccer of German Bundesliga – his original home team Hertha BSC.
Welcome, Armin!
The ATC Drivetrain Board of Directors is pleased to announce that Greg Heald has joined the company as President and Chief Executive Officer and will also serve as a member of the Board of Directors. Mr. Heald has extensive global automotive industry experience and was most recently based in Shanghai, China with Joyson Safety Systems (f.k.a. Key Safety Systems). Key Safety Systems was previously a portfolio company of Crestview Partners, ATC Drivetrain’s majority owner.
During his 20 years with Key Safety Systems, Mr. Heald served in a variety of global leadership positions with responsibilities in North America, Europe and Asia. Prior to Key Safety Systems, Mr. Heald started his career at Ford Motor Company working in finance and purchasing.
Greg Heald stated, “I am excited to be joining the outstanding team at ATC Drivetrain and to have the opportunity to partner with Crestview again. Together, we will seek to build on ATC’s successful 80-year history in providing remanufacturing services to the automotive industry by broadening our product offerings and the geographic regions that we serve to create a global market leader.“
“The Board of Directors could not be more thrilled to have Greg join the ATC team as our new CEO. Greg has a demonstrated track record of success throughout his career and is the right executive to lead ATC into the future,” said John Weber, ATC Drivetrain Chairman of the Board of Directors.
Alex Rose, Partner of Crestview and co-head of the firm’s industrials strategy said, “Greg is an outstanding leader who we worked closely with during our ownership of Key Safety Systems. We’ve seen Greg grow and globalize businesses firsthand and the skillset that he brings to ATC is the perfect fit to enable us to execute our strategic growth plans.”
Oklahoma City automotive staple marks historic anniversary with an outdoor event on October 4th.
ATC Drivetrain will celebrate its 80th Anniversary on Thursday, October 4, 2018, from 12:00 to 3:00 p.m. by hosting an event at their corporate headquarters, located at 9901 W. Reno Avenue in Oklahoma City. The event will recognize past and present employees, local leaders, partners, and friends of one of the longest-standing providers of engine remanufacturing, logistics services, and automotive solutions in the region.
Founded in 1938 by Fred Jones, and currently owned by New York-based Crestview Partners, ATC Drivetrain is one of the world’s leading authorities in the remanufacturing of automotive drivetrain components such as automatic transmissions and engines. Longtime ATC Drivetrain customers include such blue-chip automakers as Ford, Nissan, Chrysler, Eaton, and Subaru.
“We are incredibly grateful for the many people who have made this journey and accomplishment possible! For the trust and loyalty of customers who have partnered with us over the years, and for our owners and investors, such as our founder, Fred Jones, up to our current ownership group, Crestview Partners.” stated CEO and President Joseph Roark. “Finally, and very importantly, we are grateful for our team of men and women who work every day in our 5 facilities to produce products and services of unparalleled quality and value!”
