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Varnum Serves as Legal Advisor in Automotive Company Buyout

May 6, 2024

Oakley Industries Sub Assembly Division, Inc., a multi-national supplier specializing in tire and wheel assembly and sequencing services for automotive OEMs, recently transitioned ownership to its management team. Varnum represented the company in the transaction.

The Varnum M&A team negotiated the purchase agreement and represented Oakley ownership in all legal aspects of the deal, which included the sale of all of Oakley’s equity interests to members of the company’s management team. The Varnum team included John Titley, Conor Boland and Hannah Cone (M&A), Shawn Strand (tax) and Charles Russman (employee benefits). 

Headquartered in Flint, Oakley operates six facilities in Michigan, Ohio, Illinois and Ontario and supplies over 20 automotive programs. The company provides tire and wheel assembly and sequencing services primarily for automotive OEMs in battery electric vehicle (BEV) and internal combustion engine (ICE) vehicle programs.

The transaction allows for continued growth and expansion of the business through industry relationships established over 40 years of operations.

“The Varnum team provided sound legal advice and had expertise within their organization to address all the items in the Purchase Agreement,” said Oakley Senior Advisor Bob Trygstad. “John and his team were very responsive to any requests and also to meet the closing target date. I enjoyed working with their team.”

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