TSCP Sells Assembly & Test Worldwide to ATS Automation Tooling Systems, Retains Ownership of Detroit Tool & Engineering Company
St. Louis (Jan. 5, 2011) — Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced the sale of the U.S.-based and German automation and test systems businesses of Assembly & Test Worldwide, Inc. (ATW) to ATS Automation Tooling Systems, Inc. (ATS) of Cambridge, Ontario. Terms of the deal were not disclosed. TSCP was advised by Quarton Partners through the transaction.
Thompson Street will retain ownership of Detroit Tool & Engineering Company (DTE), located in Lebanon, Missouri.
Jim Cooper, Senior Managing Partner of Thompson Street said, “I’m confident ATW will create value for ATS moving forward, and that ATS will be good stewards of the ATW business. Meanwhile, we look forward to supporting the continued growth and success of the DTE business.”
According to Anthony Caputo, ATS Chief Executive Officer, “The acquisition of the ATW businesses will add to our competency base and provide new relationships with a number of attractive automotive customers.” The Dayton, Ohio-based ATW provides automation systems and solutions fundamental to the assembly and testing of a wide variety of consumer and industrial products.
For more information about ATS Automation Tooling Systems, Inc., please visit its website at www.atsautomation.com.