Author Archives: Gary Botten

ATC Drivetrain Acquires International Remanufacturing Leader

Acquisition of ATP Marks Step Towards Creating a Global Remanufacturing Enterprise

First Acquisition for ATC Drivetrain Under Ownership of Crestview Partners

OKLAHOMA CITY, OKLAHOMA – May 9, 2019 – ATC Drivetrain (“ATC”), a leading independent remanufacturer of automotive drivetrain components headquartered in Oklahoma City, Oklahoma, announced today that is has acquired ATP Automotive Transmission Remanufacturing Specialists Limited, A.T.P. Electronic Developments Limited and ATP Holdings USA, LLC (collectively “ATP”) from ATP’s founder Alan Smart. Financial terms of the transaction were not disclosed.

Founded in 1969, ATP is a Cannock, United Kingdom-based leading European independent remanufacturer of automatic transmissions, including torque converters and automated manual transmissions, electronics and mechatronics, as well as a manufacturer of diagnostics systems and providing associated services. ATP’s client base includes various European and global OEMs, and suppliers in Europe and North America.

ATP Founder Alan Smart said, “April 2019 marks ATP’s 50th year in business and I felt it was an appropriate time to secure the next phase of ATP’s continued growth. The exciting combination of ATC and ATP will allow for ATP to increase the ways in which we can serve our customers and secures the future of ATP’s employees, many of whom have over 30 years of service. I am confident that ATC is the right permanent home for my life’s work and will continue to flourish under the leadership of ATC CEO Greg Heald and the rest of the ATC leadership team.”

Greg Heald, ATC’s President and CEO and member of its board of directors, said, “The teams at ATC and our private equity sponsor Crestview Partners have a great deal of respect for Alan Smart and for the decades of hard work he has committed to building ATP as its founder and chairman. Mr. Smart’s vision has driven the growth and evolution of ATP from its beginning 50 years ago to its position today as a leader in the remanufacturing industry.”

Mr. Heald continued, “We are excited to bring together these two companies which not only complement each other in the areas of technology, footprint and customer base, but also share common core values focused on providing market leading service to our customers, team members and shareholders.”

Alex Rose, Partner and Co-Head of Industrials at Crestview Partners, said, “Since our acquisition of ATC in February 2018, ATC’s leadership team and board have been focused on pursuing global expansion and technology diversification in support of ATC’s customers’ needs. The combination of ATC and ATP creates a company with over 130 years of global automotive remanufacturing experience which will expand ATC’s ability to provide products and service to the company’s growing customer base around the world.”

About ATC Drivetrain:
ATC Drivetrain is an Oklahoma City, Oklahoma-based remanufacturer of transmissions and engines and related components for light-, medium- and heavy-duty vehicles. The company’s services include process and salvage engineering, warranty root cause analysis and testing, machining for repair and salvage of components, as well as recycling of non-reclaimable material. ATC Drivetrain serves automotive original equipment manufacturers for both in-warranty and out of warranty products and services throughout the United States. For more information, please visit www.atcdrivetrain.com.

About ATP:
ATP is a Cannock, England headquartered remanufacturer of powertrain and electronic products for both OEM and aftermarket sectors. ATP is the winner of the prestigious 2016 Queen’s Award for Enterprise in the innovation category. The company’s products and services include remanufacturing automatic transmissions, including torque converters and automated manual transmissions, electronics and mechatronics, as well as manufacturing diagnostics systems and providing associated services. For more information, please visit www.atp-group.com.

About Crestview Partners:
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $9 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, energy and financial services. For more information, please visit www.crestview.com.

Chambers of Commerce Award 2016

ATP Industries Group Ltd. to secure Greater Birmingham Chambers of Commerce Award for Excellence in International Business

ATP Industries Group Ltd., scooped another prestigious accolade in April, having been awarded the Greater Birmingham Chambers of Commerce award for Excellence in International Business. ATP had achieved export sales of £4.27m in 2015, an increase of almost 58% compared to 2014.

ATP won the award for demonstrating consistent and sustainable growth in the export markets, supplying transmissions, electronics and other components to 35 countries around the world.

This latest award follows closely the recent announcement that the company had been awarded 2016 Queen’s Award for Enterprise in the Innovation category.

Chairman Alan Smart commented “I am stunned by this award, having only just recovered from the surprise of achieving the highest business recognition with the Queens Award last week. After more than 45 years in business, it is simply great to be recognised for the work we have been doing in export and innovation. I believe ATP can be proud of developing a strategy that encourages innovation and investment which in turn leads to business growth.”

The remanufacturing sector is supporting growing local and international trade, thus creating skilled jobs and allowing the business to develop year on year. ATP offers a complete technical service for all our OEM clients and has invested heavily in product validation as part of our standard processes.

The fact that long standing clients include globally recognised names such as Ford, Volvo, Chrysler, Land Rover, Aston Martin and JCB, speaks for itself, along with other recent business and industry awards such as the Rematec Remanufacturer of the Year in 2013, another first for an independent UK company.

ATP has a reputation for solving the toughest of remanufacturing problems by the identification and management of risk, often cross-fertilising technologies and techniques from a range of industry projects. All projects from initial feasibility studies through to remanufacturing of complex low volume, high variation assemblies to the highest standards expected in the automotive industry are managed via a TS16949-accredited project management system.

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From Pit to Palace

ATP Industries Group Ltd. to win the most prestigious UK Business Award

ATP Industries Group Ltd., has been awarded a 2016 Queen’s Award for Enterprise in the Innovation category.

The award was made for “having demonstrated substantially improved performance, via outstanding innovation, over a 2 year period.”

ATP won the prestigious accolade for developing a highly complex and technically advanced transmission test suite that permits the precise validation and calibration of the electronic, hydraulic, and mechanical and software functions of the product. This ensures that the high quality levels expected by OEM customers are consistently achieved and this in turn increases productivity and customer satisfaction as well as reducing potential warranty costs.

Chairman Alan Smart commented “We are extremely proud of this accolade and believe ATP is a shining example that innovation in the UK remanufacturing sector is supporting growing local and international trade, thus creating skilled jobs and allowing the business to develop year on year. We offer a complete technical service for all our OEM clients and have invested heavily in product validation as part of our standard processes.”

“In 2011 when we moved into our new facility in Cannock Wood, the site of a former coal mine and brickworks, we undertook a mission to turn ATP into a world class remanufacturing business and innovation in all areas is seen as key to the success of that mission.”

The Queen’s Award for Enterprise is the highest award that can be given to any UK business and recognises a company’s contribution in the fields of the UK economy or technology but also considers its role within the local community, environmental impact and the quality of its relationships with suppliers, partners, employees and customers.

The company works with multiple advanced technologies and has over 45 years of expertise in transmission remanufacture and particularly reverse engineering which allows a product life to be extended, thus making remanufacturing the ultimate in the green or circular economy, typically consuming 88% less raw material, producing 53% less CO2 and using 56% less energy than an equivalent new product.

It is widely recognised that in F1 if you don’t innovate a team will go backwards on the grid and ATP has adopted this forward looking strategy to maintain its position as Europe’s leading independent remanufacturer of transmissions.

To underline this commitment, ATP has also recently commissioned 2 state of the art Durr cleaning machines which are self-contained and with minimal external discharge, resulting in the virtual elimination of over 300000 litres of effluent discharge per year as well as realising significant process and quality improvements.

The fact that long standing clients include globally recognised names such as Ford, Volvo, Chrysler, Land Rover, Aston Martin and JCB, (another 2016 QA winner) speaks for itself, along with recent business and industry awards such as the ReMaTec Remanufacturer of the Year in 2013, another first for an independent UK company.

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A Royal Visit

ATP Industries Group to welcome HRH Prince Edward, the Duke of Kent, to their Cannock remanufacturing site

On Thursday 12th November 2015, ATP’s Chairman Alan Smart played host to a visit by HRH Prince Edward, the Duke of Kent to their facilities in Cannock, Staffordshire.

The visit recognises the significant innovations in remanufacturing demonstrated by ATP which in turn has led to a number of business awards, including the Staffordshire Chambers of Commerce Manufacturer of the Year 2015 and a short listing for a 2016 Queen’s Award in the Innovation Category.

As a result of this innovation, ATP who also has facilities in Guangzhou China and Ann Arbor in the USA, has seen a number of new, skilled jobs created as well as a rising order book and is investing heavily in new capital equipment, all of which bodes well for the future.

As part of the tour, the Duke saw the before and after condition of a range of remanufactured products and also tried his hand at assembling a gearbox before going on to view the in house designed test beds used to prove the product quality.

The Duke was also introduced to key ATP customers, guests and members of staff and he concluded the visit to ATP by unveiling a plaque to commemorate the occasion in front of the assembled work force and guests.

Chairman Alan Smart commented, “ In the last 12 months we have hosted visits from many important customers and having George Osborne come to see us whilst on the election campaign trail in support of Amanda Milling was a surprise, however to be honoured with a visit from HRH the Duke of Kent I think is the highlight for me”.

It recognises the effort the entire workforce puts into maintaining ATP’s position as an acknowledged, independent transmission and drive-line remanufacturer.

Invited guests included some of ATP’s valued customers from the automotive and off-highway sectors, such as Volvo, Jaguar Land Rover, Ford and JCB.

The event was also attended by Amanda Milling, MP for Cannock Chase, the Chair of Staffordshire County Council, Janet Eagland, Ian Dudson the Lord Lieutenant of Staffordshire, and Prof. Alan Howell from the Staffordshire University alongside other invited guests.