MOTUS INTEGRATED TECHNOLOGIES COMPLETES ACQUISITION OF JOHNSON CONTROLS HEADLINER AND SUN VISOR BUSINESS IN NORTH AMERICA AND EUROPE
HOLLAND, MICH., June 2, 2014 – Motus Integrated Technologies – a Tier 1 supplier recently formed by experienced automotive industry executives and Atlas Holdings LLC (Atlas) – has completed its acquisition of the headliner and sun visor business of Johnson Controls, Inc. in North America and Europe. Terms of the deal were not disclosed.
Motus Integrated Technologies (Motus), with its North American corporate offices in Holland, Michigan, is focused on establishing itself as a premier, global interiors supplier providing best-in-class quality, service and innovation to global OEMs.
“We are excited about the opportunities in the global interiors segment and believe Motus is uniquely positioned to invigorate and build upon a solid foundation and history of product leadership,” said Shannon White, president and CEO, Motus. “We have a very experienced and dedicated team and we are excited to be part of a nimble, financially strong company that will focus on headliners, overhead systems and sun visor products. We are particularly energized about renewing a culture of customer service and innovation, which we intend to pursue with passion and commitment.”
Tim Lee, Chairman, expressed confidence in the company’s future. “At Motus, we are investing for the long-term,” Lee said. “Motus is being built from solid automotive manufacturing businesses with outstanding products that are burdened by circumstances where their true value and potential are constrained. Our focus at Motus is to remove the barriers and provide the capital required to enable our company to flourish. We are excited about Motus’ opportunity to become a customer-focused integrated systems provider to the leading automobile companies around the globe.”
Motus will work closely with Johnson Controls to seamlessly transition the business. Along with the acquired business, leaders and key members of the commercial development, engineering, operations and purchasing groups from Johnson Controls are joining Motus, ensuring reliability and consistency during the transition process.
Tim Lee and Shannon White bring a wealth of management and automotive experience to Motus. Lee was most recently Executive Vice President of General Motors Global Manufacturing and Chairman of GM China until his retirement in April 2014. White was previously president and CEO at Guilford Performance Textiles and United Plastics Group, Inc.
In addition to maintaining its North American corporate offices in Holland, Michigan, Motus will also continue manufacturing operations in Holland, Michigan; Ramos Arizpe, Mexico; Uberherrn, Germany; and Creutzwald, France and will have production capabilities in Cottondale, Alabama.
“This is really a win-win for all stakeholders,” said White. “We have the opportunity to take over a business with a sound strategy that has an immense opportunity for growth. We can focus on maintaining and enhancing the business, but also be dedicated to and concentrate our resources on supporting customers, suppliers and employees globally.”
About Motus Integrated Technologies
Motus Integrated Technologies is a privately held Tier 1 supplier of automotive interior products to the world’s automakers with its North American headquarters in Holland, Michigan. The company’s approximately 2,000 employees produce headliners and sun visors from five manufacturing facilities in North America and Europe. For more information, visit www.motusintegrated.com.
About Atlas Holdings LLC
Atlas Holdings LLC is an industrial holding company headquartered in Greenwich, Connecticut. Atlas employs more than 12,000 people globally at more than one hundred facilities worldwide. Atlas operates in a number of industrial sectors, including automotive, building materials, capital equipment, energy, industrial services, packaging, pulp, paper, and tissue, steel, and logistics, supply chain management and distribution. Atlas’ portfolio companies combined generate in excess of $3 billion dollars in revenues annually. For more information, visit www.atlasholdingsllc.com.