Autokiniton Global Group’s $900 Million Acquisition Of Tower International


Simpson Thacher represented J.P. Morgan Securities LLC as financial advisor to Tower International, Inc. (NYSE: TOWR) in connection with its announced acquisition by Autokiniton Global Group (“AGG”), a portfolio company of KPS Capital Partners, for $31 per share in cash in a transaction valued at approximately $900 million.

Tower International is a leading manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers, offering automotive customers a broad product portfolio, supplying body-structure stampings, frame and other chassis structures, and complex welded assemblies for small and large cars, crossovers, pickups and sport utility vehicles. Headquartered in Livonia, Michigan, Tower International has 2018 full-year revenue of $1.6 billion. AGG is a leading North American supplier of metal-formed components and complex assemblies to the automotive industry, headquartered in New Boston, Michigan.

J.P. Morgan Securities LLC acted as financial adviser for Tower, according to the release. Houlihan Lokey Capital Inc. assisted with providing a fairness opinion. Lowenstein Sandler LLP acted as Tower’s legal adviser.

Goldman Sachs & Co. and Bank of America Merrill Lynch were Autokiniton’s financial advisers in the deal. The company’s legal adviser was Paul, Weiss, Rifkind, Wharton & Garrison LLP.

The Simpson Thacher team included Jakob Rendtorff (Picture), Caroline Gottschalk and Michael Ratay (M&A).

The Paul, Weiss team included corporate partners Angelo Bonvino, Monica Thurmond, Michael Vogel, Lindsey Wiersma, Marco Masotti and Mark Bergman and counsel Bruce Gruder, Austin Witt, Julie Martinelli and Richard Elliott; employee benefits partner Andrew Gaines, of counsel Robert Fleder and counsel Reuven Falik and Uri Horowitz; intellectual property partner Chuck Googe; litigation partners Aidan Synnott and Allan Arffa and counsel Peter Jaffe; real estate partner Peter Fisch; tax partner David Mayo; environmental counsel William O’Brien; and antitrust counsel Marta Kelly.

Involved fees earner: Allan Arffa – Paul Weiss Rifkind Wharton & Garrison; Mark Bergman – Paul Weiss Rifkind Wharton & Garrison; Angelo Bonvino – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Reuven Falik – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Robert Fleder – Paul Weiss Rifkind Wharton & Garrison; Andrew Gaines – Paul Weiss Rifkind Wharton & Garrison; Chuck Googe – Paul Weiss Rifkind Wharton & Garrison; Bruce Gruder – Paul Weiss Rifkind Wharton & Garrison; Uri Horowitz – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Julie Martinelli – Paul Weiss Rifkind Wharton & Garrison; Marco Masotti – Paul Weiss Rifkind Wharton & Garrison; David Mayo – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Aidan Synnott – Paul Weiss Rifkind Wharton & Garrison; Monica Thurmond – Paul Weiss Rifkind Wharton & Garrison; Michael Vogel – Paul Weiss Rifkind Wharton & Garrison; Lindsey Wiersma – Paul Weiss Rifkind Wharton & Garrison; Austin Witt – Paul Weiss Rifkind Wharton & Garrison; Caroline Gottschalk – Simpson Thacher & Bartlett; Jakob Rendtorff – Simpson Thacher & Bartlett; Michael Ratay – Simpson Thacher & Bartlett;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Simpson Thacher & Bartlett;

Clients: Autokiniton Global Group; J.P. Morgan Securities LLC;