DTCF Performs Lead Advisory on Behalf of Millennium Industries
Highlights DTCF’s Automotive Industry Capabilities
Deloitte & Touche Corporate Finance LLC (DTCF) is pleased to announce its role as exclusive financial advisor to Millennium Industries in its acquisition of Dana Corporation’s fuel-rail manufacturing business. The fuel-rail manufacturing business had sales of approximately $38 million in 2004 and is located in Angola, Indiana.
This divestiture supports Dana Corporation’s objective of simplifying their business and executing on their core product strategies.
DTCF initiated contact with Dana Corporation on behalf of Millennium Industries, facilitated information transfer and advised with respect to the negotiations of the terms and structure of the transaction.
Millennium Industries contacted DTCF after receiving the practice’s quarterly Automotive Update. This newsletter is distributed every quarter to automotive industry executives. The Automotive Update provides information on valuation trends and recent mergers and acquisitions taking place in the industry. Subscribe.
About Millennium Industries and Dana Corporation
Millennium Industries is a tier 1 and 2 manufacturer of fuel system and engine components with plants in Ligonier, IN, Angola, IN and Cass City, MI. Millennium had sales of over $50 million in 2004.
Dana Corporation is a leading supplier of axle, driveshaft, engine, frame, chassis, and transmission technologies. Dana employs 46,000 people in 28 countries. The company is based in Toledo, Ohio and reported sales of $9.1 billion in 2004.
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