KPMG Corporate Finance LLC (KPMG CF) acted as exclusive financial advisor to VITEC, LLC (“VITEC”) in the sale of its Fuel Systems business to a confidential undisclosed buyer (“Buyer”).
VITEC is a leading North American designer and manufacturer of highly engineered plastic molded fuel storage and delivery systems. The Company, founded in 1998, has earned an outstanding reputation for consistently engineering and producing some of the highest-quality tanks in the automotive industry. VITEC has a state-of-the-art automated facility and is capable of producing tanks at industry-leading cycle times.
The acquisition of VITEC’s Fuel Systems business provides a complement to the Buyer’s plaUorm including a highly strategic locaHon in Detroit, MI, where it is expected to deliver increased diversificaHon, growth, scale and conHnued quality to their OEM customers. VITEC’s current production plaUorms extend the Buyer’s existing portfolio, and allows the Fuel Systems business to leverage the Buyer’s global platform to generate continued growth.
KPMG CF demonstrated an integrated “one team” approach by partnering with KPMG LLP senior professionals to assist VITEC. Dr. William F. Pickard, Chairman, CEO, and Founder of VITEC, stated “KPMG's professionals were instrumental in advising VITEC throughout the sale process. VITEC appreciates KPMG's work on its behalf and the successful result that was achieved for all stakeholders”.
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