Labor Aiding Systems, a provider of assembly equipment for automotive seating and interior trim applications, has been bought by a new entity formed by private investor Joe Simon. No financial terms were disclosed. Angle Advisors acted as the investment banking advisor to LAS for this transaction.
Birmingham, Michigan – June 4, 2013 – Angle Advisors is pleased to announce that Labor Aiding Systems, Inc. (“LAS”) has been acquired by a new entity formed by private investor Joe Simon. Angle Advisors acted as the exclusive investment banking advisor to LAS in managing this transaction.
Founded in 1986, LAS is a leading designer and manufacturer of automated assembly equipment for automotive seating and interior trim applications. Using innovative automotive methods, LAS’s equipment reduces seat, trim and multi-part assembly times from tens of minutes to seconds while improving quality and reducing labor requirements. From a 26,000 sq. ft. facility in Jackson, MI, LAS operates a fully-integrated operation including design, engineering and production that supplies Tier I and OEM customers globally.
Steve Bentschneider, the founder and previous owner of LAS stated, “LAS has grown into one of the leaders of automotive interior fixtures and we are proud of our achievement. The Angle team had a hands-on approach and utilized their broad contact base within the automotive industry to complete a successful transaction. Joe Simon will now carry LAS to the next level while maintaining the high level of quality and tradition expected from LAS.”
Joe Simon, the new owner of LAS commented, “LAS has a great line of equipment and tooling. They also have a competent and aggressive management and workforce team. We are poised for continued growth and success.”
Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions with a particular emphasis on the vehicular and industrial sectors. The firm’s 33 professionals have completed 84 M&A transactions since the beginning of 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.