Detroit Manufacturing Systems Completes Successful Aquisition Of Android Industries And Avancez Form
Michimich.com/10317918

DETROIT - Michimich -- Detroit Manufacturing Systems, LLC ("DMS"), today announced the closing of their previously announced acquisition of Android Industries, LLC ("Android"), and Avancez, LLC ("Avancez"), establishing a new entity, Voltava, LLC ("Voltava").  Headquartered in Auburn Hills, Michigan, Voltava is wholly owned by Bruce Smith, who will serve as Chairman and Chief Executive Officer of the new organization.

"Today marks a transformational step in our journey as we officially launch Voltava," said Smith. "By uniting our complementary strengths, operational scale and financial capacity, we are establishing a new leader in the global manufacturing and assembly space focused on delivering long-term value, quality, innovation and exceptional service to our customers worldwide."

With the acquisition complete, Voltava forms a premier global manufacturing and assembly partner serving a diverse array of industries including automotive, industrial, e-mobility, micromobility, heavy truck, government and tooling and equipment design and manufacturing.  With approximately 5,400 Team Members operating across 21 global locations, including 19 in North America, one in South America, and one in Europe, Voltava supports customers and OEM partners across all major markets. The company is strategically focused on delivering scalable, high-quality solutions across a growing portfolio of global partners.

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"We will continue building upon the founding values and principles of our legacy companies," said Smith. "The Voltava brand is a true representation our unique and passionately people-focused culture. We have created something special—fostering an environment of collaboration, social responsibility, respect, diversity, accountability and excellence.

Advisors
Palm Tree Securities, LLC, and CMD Global Partners, LLC served as financial advisors to Detroit Manufacturing Systems, with Foster Swift Collins & Smith PC as legal advisor.
J.P. Morgan Securities, LLC served as financial advisor to Android Industries, with Kerr, Russell, and Weber, PLC serving as legal advisor.

Senior Financing

Wells Fargo served as Agent on a new $450 million asset-based credit facility to assist in effectuating the acquisition. PNC Capital Markets acted as Joint Lead Arranger and U.S. Bank is a participant in the transaction. Wells Fargo previously served as DMS's sole senior lender.

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About Voltava
Voltava is a premier, global manufacturing and assembly partner formed through the combination of Detroit Manufacturing Systems (DMS), Android Industries and Avancez. Headquartered in Auburn Hills, Michigan, Voltava unites the complementary strengths of three industry leaders to deliver innovative solutions in complex module assembly, sequencing, contract manufacturing, supply chain, automation and tooling and equipment design. With approximately 5,400 Team Members across 21 facilities worldwide, Voltava serves a broad portfolio of OEM customers across the automotive, industrial, e-mobility, heavy truck, defense and technology sectors. The company is built on a foundation of quality, safety, operational excellence and environmental responsibility--made possible through a vibrant, collaborative, diverse and people-focused culture.