DURA Automotive Systems, a global automotive supplier, will invest $59 million to open a manufacturing facility at Shoals Research Airpark in Muscle Shoals, Alabama. 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. 0. ... " 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. Andrea Hurst DURA Automotive Systems - Official, Auburn Hills, MI. DURA Automotive Systems has 1,653 employees across 27 locations and $1.20 B in annual revenue in FY 2017. 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. Published: May 18, 2020. June 11, 2020 "Innovative place" 4 ... - The company filed for bankruptcy and was sold to another company in May. Lynn Tilton, the CEO and financier of Dura Automotive Systems LLC, is likely to face a serious challenge in bankruptcy court. Dura Automotive Systems, LLC's top competitors are Teleflex, Ficosa and Magna. American Bankruptcy Institute | 66 Canal Center Plaza, Suite 600 | Alexandria, VA 22314. Print. Dura markets its automotive products to every North American, Asian and European Original Equipment Manufacturer (OEM) and many leading Tier 1 automotive suppliers. Search job titles. “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. 3 New Plant Openings in near future. 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. May 12, 2020 5:52 pm ET. LEXINGTON, Ky.--(BUSINESS WIRE)--MiddleGround Capital announced today that it has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. At the 2020 Future Vehicles NVH Summit, Sanjay Singh, CTO of Dura Automotive, discussed the … Dura Automotive Wants To Remain Private. See insights on DURA Automotive Systems including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. ; and Selinsgrove, Pa. . 27 August 2020. Dura is headquartered in Auburn Hills, Michigan, USA. Case Background. This rendering shows what DURA Automotive Systems' new facility in Muscle Shoals, Alabama, will look like once completed. Dura Automotive Systems (or Dura) is an independent designer and manufacturer of automotive components, including control systems, exterior systems and lightweight structural systems. The facility will produce battery trays for electric vehicles. 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. 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. By Stephan Roben Last updated Aug 6, 2020. 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. 995 likes. © 2021 Prospect CommunicationsPrivacy PolicyWLLX-FM Public FileWLXA-FM Public File. DURA Automotive Systems has acquired 1 company of its own. The dedication and tenacity of our 6,700 global team members has strategically positioned the company for ongoing success. 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. DURA Automotive Builds EV Battery Trays Plant In Alabama. 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 … As advanced mobility continues to evolve, we look forward to collaborating with industry thought leaders to create the future in vehicle safety and electrification.”. Dura Automotive sold; Kimberly Rodriguez named CEO. ; Bracebridge, Ontario; Hannibal South, Mo. ... 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. A free inside look at company reviews and salaries posted anonymously by employees. Moelis & Company It is currently investing out of its first fund. 7,269 Number of Organizations • $67.9B Total Funding Amount • … The Auburn Hills-based company and its … 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. 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. Lists Featuring This Company. andrea.hurst@moelis.com. Dura Automotives Sold to Lenders in Bankruptcy Court. The financial terms weren't disclosed in a press release announcing the deal. The life under the new owner was not getting any better too. (703)739-0800 | Fax. Tel. For further information, please visit: www.middlegroundcapital.com. See Dura Automotive Systems, LLC's revenue, employees, and funding info on Owler, the world’s largest community-based business insights platform. Company Emerges from Global Restructuring. Learn more company at duraauto.com. View DURA Automotive Systems stock / share price, financials, funding rounds, investors and more at Craft. MiddleGround Capital announced today that it has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. The company has 6,700 employees worldwide and operates 31 facilities in 13 countries. It has also divested 1 asset.. DURA Automotive Systems’ largest acquisition to date was in 1999, when it acquired Excel Industries for $476M.It’s largest disclosed sale occurred in 2007, when it sold Atwood Mobile Products to Insight Equity for $160M.DURA Automotive Systems has acquired in 1 US state. 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. DURA Automotive Systems is a global automotive supplier specializing in the design, engineering, and manufacturing of solutions driving the evolution of mobility. 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. 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. 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. 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. From today’s focus on electrification of the powertrain and vehicle lightweighting to some of the longer-term shifts toward autonomous driving and connected car, Dura is and will continue to be a driving force in an industry undergoing major transformation. ... Glassdoor has 141 Dura Automotive reviews submitted anonymously by Dura Automotive employees. DETROIT — After emerging from bankruptcy in late May, longtime supplier Dura Automotive once again has new owners. OWENS ADVISED DURING THE HEARING WITHOUT THE APPROVAL OF THE DEALS, DURA WOULD LIKELY HAVE TO SHUT ITS DOORS AND LIQUIDATE. IN A HEARING TUESDAY, US BANKRUPTCY JUDGE KAREN B. OWENS, APPROVED THE SALE OF DURA AUTOMOTIVE SYSTEMS LLC’S NORTH AMERICAN AND EUROPEAN OPERATIONS. This is MiddleGround’s sixth platform acquisition made from its first fund, which closed in August 2019. — News — August 9, 2020 From Crain’s Detroit Business by Dustin Walsh. Dura Automotive Systems is an independent designer and manufacturer of automotive components, including control systems, exterior systems. For more than 100 years we have been recognized by leading vehicle manufacturers as a preferred supplier of mechatronic systems, and lightweight solutions. MiddleGround Capital announced today that it has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. Text. 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 … DURA Automotive Systems, LLC (“DURA” or the “Company”), a leading global automotive supplier specializing in the design, engineering, and manufacturin Michigan-based car parts maker wants to emerge from Chapter 11 without being subjected to Securities and Exchange Commission rules. Dura… 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. 212-883-3666 Automobile. Updated 11 Sep 2020. Continue reading. ... 69% Of Plug-Ins Sold In U.S. ... "In 2020 DURA launched its latest lightweight structural systems plant in the Czech Republic. 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. ... August 06, 2020 … Dura Automotive Reviews. FM 97.5   FM 98.3   FM 100.1   FM 100.5   FM 100.7   FM 103.5. Kimberly Rodriguez plans to repair Dura Automotive's tattered reputation. ... Amherst's restructuring business sold to Boston investment bank ... 2020 10:28 AM. DURA Automotive Systems annual revenue was $1.20 b in FY 2017. Share. CenterOak acquired FullSpeed in 2017. Dura Automotive Systems is a global automotive supplier specializing in the design, engineering, and manufacturing of solutions that drive the evolution of mobility. Dura is a global designer and manufacturer of highly engineered automotive systems. DURA Automotive Systems has announced a comprehensive restructuring of the company into four global business units. Nov. 30, 2020—FullSpeed Automotive will change hands after private equity owner CenterOak Partners sold the company to MidOcean Partners. The facility will produce EV battery trays. Dura continues to lead the way with new technology evolution. In 2020, DURA launched its latest lightweight structural systems plant in the Czech Republic. Creditors want answers about the decline of Dura Automotive Systems LLC, a car-parts maker that was sold out … United States Automotive Companies . LADA summarizes sales results for August 2020. IN A HEARING TUESDAY, US BANKRUPTCY JUDGE KAREN B. OWENS, APPROVED THE SALE OF DURA AUTOMOTIVE SYSTEMS LLC’S NORTH AMERICAN AND EUROPEAN OPERATIONS. 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