Atlas Holdings to buy plastics manufacturer US Farathane

• USF CEO Andy Greenlee will remain CEO and become chairman of the board
• The deal is expected to close in the second quarter of this year
• Goldman Sachs and Deutsche Bank Securities Inc. served as financial advisors to US Farathane on the transaction while Houlihan Lokey served as financial advisor to Atlas

Atlas Holdings has agreed to acquire Auburn Hills, Michigan-based US Farathane, a provider of plastics manufacturing. The seller is The Gores Group. No financial terms were disclosed.

USF CEO Andy Greenlee will remain CEO and become chairman of the board.

The deal is expected to close in the second quarter of this year.

USF customers include General Motors, Ford, Stellantis, Tesla, Toyota, Honda, Rivian and other leading global automotive OEMs and Tier 1 suppliers.

“USF has built a strong reputation as a leading automotive supplier and we are looking forward to working alongside Andy Greenlee and his highly capable team to support the next phase of USF’s growth and development,” said Atlas Holdings Managing Partner Jacob Hudson, in a statement.

Goldman Sachs and Deutsche Bank Securities Inc. served as financial advisors to US Farathane on the transaction. Houlihan Lokey served as financial advisor to Atlas on the transaction.

Headquartered in Greenwich, Connecticut, Atlas and its affiliates own and operate 26 companies. Atlas was founded in 2002.

The Gores Group was founded in 1987 by Alec Gores. The firm targets the industrial, healthcare, technology, services, and consumer sectors.