Wuxi Gissing Auto Parts Invests in ConForm Technologies

The Michigan investment bankers of Doeren Mayhew Capital Advisors, a middle-market investment banking firm, assisted Gissing Automotive Systems, LLC with its investment in ConForm Automotive.

Gissing Automotive Systems, a wholly owned subsidiary of Wuxi Gissing Auto Parts Co. Ltd., is a China-based leading designer and manufacturer of interior acoustic parts, special equipment and molds for the global automotive market.

As the exclusive financial advisor to Gissing, Doeren Mayhew Capital Advisors successfully guided the client through the buy-side advisory process, including negotiating the letter of intent, as well as terms and conditions to definitive agreements, coordinating due diligence and placing debt with Huntington National Bank and Comerica Bank.

ConForm Automotive, initially created through an acquisition of Formed Fiber Technologies by Detroit Technologies Inc., is North America’s largest manufacturer of needle-punched, nonwoven fabrics and polyester staple fibers.

“This transaction enables Gissing to aggressively pursue market growth initiatives and truly solidify its position as a global automotive supplier. ConForm sees its position in North America strengthened with the additional capabilities elevating it to an acoustic integrator for the automotive industry,” said Claudio Calado, managing director at Doeren Mayhew Capital Advisors. “We are honored to have worked with the Gissing team to achieve this important transaction for the company.”

The Doeren Mayhew Capital Advisors team was lead by managing director, Claudio Calado, and vice president, David Praet.

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