Architect Equity (“Architect”) a private equity group focused on the lower middle market, is pleased to announce the acquisition of Gibbs Die Casting Corporation (“Gibbs”), a leading manufacturer of precision die-casted, machined and assembled products for the automotive and industrial markets, from Koch Enterprises, Inc. Terms of the transaction were not disclosed.
Founded in 1965, Gibbs has been a leading provider of aluminum parts and components for Tier One industrial and automotive OEM customers worldwide. Products include an array of driveline, powertrain, and transmission parts which serve internal combustion engines (“ICE”) as well as electric vehicles (“EV”), hybrid and autonomous vehicles, and other heavy and light industrial machinery. Headquartered in Henderson, Kentucky, Gibbs has over 800 team members at its main manufacturing campus.
Dionisio Lucchesi, Managing Partner of Architect Equity, said, “Gibbs is an attractive opportunity for Architect to partner with a highly qualified management team that operates a business that provides mission critical parts and components to the automotive and industrial sectors. We are excited about building upon the existing core business as well as identifying opportunities for growth that require high quality engineering expertise and aluminum manufacturing capability.”
As part of the transaction and go-forward operations, Architect will maintain Gibbs manufacturing operations in Henderson, Kentucky, and will retain the existing leadership team which includes Greg Risch as Chief Executive Officer, Jeff Moyer as Chief Commercial Officer, Harvey Dewan as Chief Operating Officer, and John Bush who has been promoted to Chief Financial Officer.
“Gibbs represents another great opportunity that fits well with Architect’s investment thesis of acquiring an established business with strong production capabilities that can scale significantly, a long-tenured blue-chip customer base, and large addressable end markets to fuel future growth across ICE, EV, hybrid and other vehicle categories that require high performance aluminum parts and components,” added Eric Luoma, Managing Director at Architect Equity.
“The Gibbs team is excited for the partnership with Architect Equity,” says Greg Risch, CEO of Gibbs Die Casting. He adds, “They are a very experienced team with a successful track record in investing and operating automotive and industrial-oriented businesses. Of upmost importance is that Gibbs will continue to be known as a leading, value-added partner to its customers and an important employer and contributor to the local community.”
“The leadership team of Gibbs has a significant amount of domain knowledge from operating in the industry over an extensive period of time, which is a real differentiator when you are a supplier of mission critical products that serve major automotive and industrial customers. Architect Equity looks forward to supporting Gibbs and the value it continues to provide its customers,” said Jack Hall, Managing Director of Portfolio Operations at Architect Equity.
The acquisition of Gibbs marks the seventh platform acquisition by Architect.
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