Acquisition of a division of BorgWarner inc. by Atar Capital

Deal typeTransaction Services
IndustryManufacturing
Client nameAtar Capital

Atar Capital, a Los Angeles-based global private investment firm, has completed the carve-out acquisition of BorgWarner’s North American Controls (BWNAC) business, a wholly owned and operated division of BorgWarner (NYSE: BWA). Headquartered in Detroit, Michigan, with manufacturing located in Water Valley, Mississippi, the business is a leading supplier of transmission solenoids, engine solenoids, stop-start accumulators and hydraulic control modules throughout North America.


Cyrus Nikou, founder and managing partner of Atar Capital, said, “Atar is excited to complete this carve-out with BorgWarner and acquire such an impressive world-class operation. As a standalone company, BWNAC will focus on a growth and diversification strategy, leveraging its market-leading position serving blue-chip automotive and commercial vehicle OEMs, such as Cummins Engine, Ford Motor Company, General Motors and Stellantis.”

Through this acquisition, Atar Capital confirms the appointment of automotive industry veteran, Ramzi Hermiz, as a Board Member of BWNAC and interim CEO, while the search for a permanent CEO is conducted. Hermiz was formerly a Board Member and CEO of Shiloh Industries and held several executive and C-level positions during his 22 years at Federal-Mogul Corporation.

“Atar Capital could not be more excited about the opportunities that lie ahead for the new company,” said Vijay Mony, managing director at Atar Capital. “We welcome Ramzi as a Board Member and thank him for stepping in as the interim CEO, leading the transition of BWNAC to a standalone company. We believe combining an experienced leader like Ramzi with the engineering and manufacturing expertise of BWNAC will help create new opportunities and further the company’s leadership position in the market.”

Atar’s investment team for the transaction included Founder and Managing Partner Cyrus Nikou, Senior Managing Director Robert Lezec, Managing Directors Stanley Huang and Vijay Mony and Director T.J. McCaffrey. Dykema provided legal counsel, Ducker International provided market analysis and BDO supplied quality earnings, information technology and general operations transaction support