MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. Dura Automotives Sold to Lenders in Bankruptcy Court. Dura Automotive Systems Inc. today said it would become part of a large diversified metal-bending company following its acquisition by New York private-equity firm … Michigan-based car parts maker wants to emerge from Chapter 11 without being subjected to Securities and Exchange Commission rules. We want to thank our customers, suppliers and employees for their unwavering support as we begin our next chapter as a new company.”, Dura CEO Kimberly Rodriguez noted, “I am thrilled to join such a talented organization. IN A HEARING TUESDAY, US BANKRUPTCY JUDGE KAREN B. OWENS, APPROVED THE SALE OF DURA AUTOMOTIVE SYSTEMS LLC’S NORTH AMERICAN AND EUROPEAN OPERATIONS. DURA Automotive Systems annual revenue was $1.20 b in FY 2017. DURA Automotive Systems, LLC (“DURA” or the “Company”), a leading global automotive supplier specializing in the design, engineering, and manufacturin Read the article from Crain’s Detroit Business that highlights: DURA’s new CEO Kimberly Rodriguez and her plans to expand and repair the company’s reach and reputation. Company Emerges from Global Restructuring. Creditors want answers about the decline of Dura Automotive Systems LLC, a car-parts maker that was sold out … The life under the new owner was not getting any better too. It is currently investing out of its first fund. American Bankruptcy Institute | 66 Canal Center Plaza, Suite 600 | Alexandria, VA 22314. Lists Featuring This Company. Dura Automotive Reviews. For more than 100 years we have been recognized by leading vehicle manufacturers as a preferred supplier of mechatronic systems, and lightweight solutions. LEXINGTON, Ky.--(BUSINESS WIRE)--MiddleGround Capital announced today that it has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. Dura’s forward-thinking technology roadmap includes mechatronic control systems, including shift-by-wire systems; electronic systems, including actuators and advanced driver assist systems (ADAS); lightweight structural body systems, including electric vehicle battery trays; and exterior systems, including roof rails and electronic-infused exterior trim. 995 likes. Dura is headquartered in Auburn Hills, Michigan, USA. At the 2020 Future Vehicles NVH Summit, Sanjay Singh, CTO of Dura Automotive, discussed the … Published: May 18, 2020. ... 69% Of Plug-Ins Sold In U.S. ... "In 2020 DURA launched its latest lightweight structural systems plant in the Czech Republic. Automobile. Dura… FM 97.5   FM 98.3   FM 100.1   FM 100.5   FM 100.7   FM 103.5. As advanced mobility continues to evolve, we look forward to collaborating with industry thought leaders to create the future in vehicle safety and electrification.”. © 2021 Prospect CommunicationsPrivacy PolicyWLLX-FM Public FileWLXA-FM Public File. — News — August 9, 2020 From Crain’s Detroit Business by Dustin Walsh. (866)921-1027 A free inside look at company reviews and salaries posted anonymously by employees. In 2020, DURA launched its latest lightweight structural systems plant in the Czech Republic. Case Background. Dura Automotive Systems (or Dura) is an independent designer and manufacturer of automotive components, including control systems, exterior systems and lightweight structural systems. Lynn Tilton, the CEO and financier of Dura Automotive Systems LLC, is likely to face a serious challenge in bankruptcy court. For further information, please visit: www.middlegroundcapital.com. Text. andrea.hurst@moelis.com. This rendering shows what DURA Automotive Systems' new facility in Muscle Shoals, Alabama, will look like once completed. Dura continues to lead the way with new technology evolution. ACCORDING TO MEDIA SOURCES, CURRENT LENDERS TO THE AUTO PARTS MAKER, BARDIN HILL INVESTMENT PARTNERS, AGREED … The Alabama facility extends DURA’s Southeastern manufacturing footprint and will support the company’s business development efforts as U.S. EV battery production ramps up over the next several years. By Stephan Roben Last updated Aug 6, 2020. DURA Automotive Systems brings new facility to Muscle Shoals (Source: DURA) By Anna Mahan | August 25, 2020 at 5:18 PM CDT - Updated August 25 at 5:26 PM HUNTSVILLE, Ala. (WAFF) - DURA Automotive Systems plans to invest $59 million to open a new manufacturing facility in Muscle Shoals that will produce battery trays for electric vehicles. This is MiddleGround’s sixth platform acquisition made from its first fund, which closed in August 2019. 3 New Plant Openings in near future. United States Automotive Companies . Share. 0. Dura is a global designer and manufacturer of highly engineered automotive systems. Learn more company at duraauto.com. 7,269 Number of Organizations • $67.9B Total Funding Amount • … 133 Dura Automotive reviews. DURA Automotive Systems, a global automotive supplier, will invest $59 million to open a manufacturing facility at Shoals Research Airpark in Muscle Shoals, Alabama. Search job titles. ... " The company filed for bankruptcy and was sold to another company in May " ... Glassdoor has 137 Dura Automotive reviews submitted anonymously by Dura Automotive employees. The facility will produce EV battery trays. DURA Automotive Systems has acquired 1 company of its own. MiddleGround partner John Stewart, who spent 18 years of his career at Toyota Motor Company, stated, “We have been searching for an opportunity to invest in a business as well-positioned as Dura to capitalize on the most disruptive trends in the automotive industry. 27 August 2020. We are delighted to support Dura on its journey.”, “Dura’s engineering capabilities have made it a key supplier to its customer base for many decades. Print. MiddleGround Capital is a private equity firm that makes control equity investments in lower middle market North American companies in the B2B industrial and specialty distribution sectors. OWENS ADVISED DURING THE HEARING WITHOUT THE APPROVAL OF THE DEALS, DURA WOULD LIKELY HAVE TO SHUT ITS DOORS AND LIQUIDATE. The financial terms weren't disclosed in a press release announcing the deal. MiddleGround Capital announced today that it has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. June 11, 2020 "Innovative place" 4 ... - The company filed for bankruptcy and was sold to another company in May. Dura Automotive Systems, LLC's top competitors are Teleflex, Ficosa and Magna. DURA Automotive Systems is a global automotive supplier specializing in the design, engineering, and manufacturing of solutions driving the evolution of mobility. Dura supplies leading automotive OEMs and Tier one partners worldwide, with a presence on more than 300 platforms across all light vehicle and powertrain types. 212-883-3666 The facility will produce battery trays for electric vehicles. In August, 28 836 cars were sold, including LADA Niva and 215 units of the Niva before its rebranding See Dura Automotive Systems, LLC's revenue, employees, and funding info on Owler, the world’s largest community-based business insights platform. It operates through its mechatronics, lightweight structures and exterior trim segments, making products such as shift-by-wire actuators, advanced driver-assistance systems (ADAS), electric vehicle (BEV) battery trays, mechatronic control systems and aluminum roof rails. ; and Selinsgrove, Pa. . Nov. 30, 2020—FullSpeed Automotive will change hands after private equity owner CenterOak Partners sold the company to MidOcean Partners. With a legacy comprising more than 100 years of inspired invention, the company is recognized by leading vehicle manufacturers as a preferred supplier partner for innovative, highly integrated mechatronic systems and lightweight solutions. DETROIT — After emerging from bankruptcy in late May, longtime supplier Dura Automotive once again has new owners. See insights on DURA Automotive Systems including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. ... August 06, 2020 … ; Bracebridge, Ontario; Hannibal South, Mo. The Auburn Hills-based company and its … Michigan-based, Dura Automotive Systems has announced plans to invest US$59m to open a manufacturing facility in Muscle Shoals, producing battery trays for electric vehicles. DURA Automotive Systems has announced a comprehensive restructuring of the company into four global business units. (703)739-0800 | Fax. LADA summarizes sales results for August 2020. View DURA Automotive Systems stock / share price, financials, funding rounds, investors and more at Craft. “We value the support Dura’s customers have shown over the years and look forward to working together on this next phase of growth.”, Chris Charlton, an industry veteran, Dura equity partner and Founder of The Charlton Group, stated, “Having completed a challenging restructuring process during a global pandemic, Dura has emerged under new ownership, well capitalized and eager to resume an active role in value creation. Dura markets its automotive products to every North American, Asian and European Original Equipment Manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA Automotive Systems Inc. on April 17 announced that as a continuation of the company’s strategic restructuring initiative called 50-cubed, it is proposing to close the following four manufacturing facilities, located in Brownstown, Ind. ... Glassdoor has 141 Dura Automotive reviews submitted anonymously by Dura Automotive employees. MiddleGround Capital announced today that it has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. Dura Automotive Wants To Remain Private. Tel. We are excited to further Dura’s legacy of partnering with its customers to develop next generation products of superior quality,” said MiddleGround partner Scot Duncan, who spent 13 years at Toyota Motor Company in assembly engineering, maintenance and production management. Continue reading. CenterOak acquired FullSpeed in 2017. Dura Automotive Systems is an independent designer and manufacturer of automotive components, including control systems, exterior systems. DURA Automotive Systems has 1,653 employees across 27 locations and $1.20 B in annual revenue in FY 2017. Kimberly Rodriguez plans to repair Dura Automotive's tattered reputation. ... also will be entitled to buy a piece of the remaining equity — 39.3 percent to 42.6 percent of the reorganized Dura that will be sold in the offering. Moelis & Company DURA Automotive Systems - Official, Auburn Hills, MI. The company has 6,700 employees worldwide and operates 31 facilities in 13 countries. On October 17, 2019, Dura Automotive Systems, LLC and 6 affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for … IN A HEARING TUESDAY, US BANKRUPTCY JUDGE KAREN B. OWENS, APPROVED THE SALE OF DURA AUTOMOTIVE SYSTEMS LLC’S NORTH AMERICAN AND EUROPEAN OPERATIONS. DURA Automotive Builds EV Battery Trays Plant In Alabama. ... Amherst's restructuring business sold to Boston investment bank ... 2020 10:28 AM. May 12, 2020 5:52 pm ET. ACCORDING TO MEDIA SOURCES, CURRENT LENDERS TO THE AUTO PARTS MAKER, BARDIN HILL INVESTMENT PARTNERS, AGREED TO BID 5 MILLION DOLLARS AND 11.25 MILLION DOLLARS FOR DURAS NORTH AMERICAN OPERATIONS; IN ADDITION THEY AGREED TO BID 50 MILLION DOLLARS OF DEBT FOR ITS EUROPEAN OPERATIONS. The dedication and tenacity of our 6,700 global team members has strategically positioned the company for ongoing success. Dura Automotive sold; Kimberly Rodriguez named CEO. Dura Automotive Systems is a global automotive supplier specializing in the design, engineering, and manufacturing of solutions that drive the evolution of mobility. It has also divested 1 asset.. 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