Valore completes acquisition of Mirai Casting Group

Private investment firm Valore Holdings has completed the acquisition of Mirai Casting Group from Proterial, acquiring a global automotive casting and engineering supplier with manufacturing facilities in Japan, Korea, the United States and India. Mirai traces its technical heritage to 1910 when its precursor, Tobata Foundry, began manufacturing automotive components, and provides casting, machining, product design and material development capabilities to automotive customers.

Valore said there will be no changes to day-to-day operations, organisational structure or strategic direction, with Mirai continuing to be led by Global President Toru Iwanaga and Chief Financial Officer Yuji Minami. The firm said it is committed to long-term partnership and sustained capital investment.

Mirai has expanded its product portfolio in recent years to include ceramic diesel particulate filter products for commercial vehicle exhaust treatment. Financial terms of the transaction were not disclosed.

Graydon Sheinberg, Managing Partner of Valore, said: “Mirai’s reputation has been earned through more than a century of disciplined execution. We are excited to partner with the company as it builds on that foundation.”

Tom Griffiths, Managing Partner of Valore, added: “It is a privilege to work with a company held in such high regard across its industry.”

Source: Business Wire