Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Continental Aktiengesellschaft (“Continental”) (XTRA:CON) has completed the divestiture of its Specialty Track Systems and Engineered Rubber Products businesses (the “Company”) to Loc Performance (“Loc”). Terms of the transaction were not disclosed.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transportation. Continental currently employs more than 192,000 people across 58 countries and markets and is headquartered in Hanover, Germany.
Established in 1940, Continental’s Specialty Track Systems business manufactures track systems for use in U.S. specialty vehicles, and its Engineered Rubber Products business manufactures rubber tracks, wheels/ mounts, hay rolls and bladder bags for use in industrial and agricultural applications. The Company employs approximately 450 highly skilled employees and operates out of a 800,000+ square foot facility sitting on 108 acres in St. Marys, Ohio.
Loc provides track systems, mechanical products, fabricated structures, and assemblies for both defense and industrial applications. With proven capabilities in product design and development through production, Loc offers comprehensive solutions and exceptional customer service to produce the highest quality products at competitive pricing. Loc is based in Plymouth, Michigan.
For additional information about this transaction, please contact: