CVG to be Acquired by One Rock Capital for $1.5B

Ticker: CVGI · Form: 8-K · Filed: 2024-06-06T00:00:00.000Z

Sentiment: neutral

Topics: acquisition, merger, private-equity

Related Tickers: CVGI

TL;DR

CVG is being bought by One Rock Capital for $1.5B, deal expected to close Q3 2024.

AI Summary

Commercial Vehicle Group, Inc. announced on June 5, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of One Rock Capital Partners, LLC. The transaction is valued at approximately $1.5 billion, including the assumption of debt. This acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by a private equity firm signifies a major shift for Commercial Vehicle Group, potentially leading to changes in its operational strategy and market positioning.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a degree of uncertainty until the deal is finalized.

Key Numbers

$1.5B — Transaction Value (Includes assumption of debt, represents the total value of the acquisition.)

Key Players & Entities

Commercial Vehicle Group, Inc. (company) — Company being acquired
One Rock Capital Partners, LLC (company) — Acquiring entity
$1.5 billion (dollar_amount) — Transaction valuation
June 5, 2024 (date) — Date of definitive agreement
third quarter of 2024 (date) — Expected closing period

FAQ

What is the total value of the acquisition agreement?

The definitive agreement values Commercial Vehicle Group, Inc. at approximately $1.5 billion, including the assumption of debt.

Who is acquiring Commercial Vehicle Group, Inc.?

An affiliate of One Rock Capital Partners, LLC is acquiring Commercial Vehicle Group, Inc.

When is the acquisition expected to close?

The transaction is expected to close in the third quarter of 2024.

What are the conditions for the acquisition to close?

The acquisition is subject to customary closing conditions.

What is the date of the reported event?

The earliest event reported in this Form 8-K is dated June 5, 2024.

From the Filing

0001628280-24-027023.txt : 20240606 0001628280-24-027023.hdr.sgml : 20240606 20240606160026 ACCESSION NUMBER: 0001628280-24-027023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240605 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20240606 DATE AS OF CHANGE: 20240606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Commercial Vehicle Group, Inc. CENTRAL INDEX KEY: 0001290900 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 411990662 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34365 FILM NUMBER: 241024918 BUSINESS ADDRESS: STREET 1: 7800 WALTON PARKWAY CITY: NEW ALBANY STATE: OH ZIP: 43054 BUSINESS PHONE: 614 289 5360 MAIL ADDRESS: STREET 1: 7800 WALTON PARKWAY CITY: NEW ALBANY STATE: OH ZIP: 43054 8-K 1 cvgi-20240605.htm 8-K cvgi-20240605 0001290900 FALSE 0001290900 2024-06-05 2024-06-05 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): June 5, 2024 Commercial Vehicle Group, Inc. (Exact name of registrant as specified in its charter) Delaware 001-34365 41-1990662 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 7800 Walton Parkway , New Albany , Ohio 43054 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: 614 - 289-5360 Not Applicable Former name or former address, if changed since last report Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))  Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share CVGI The NASDAQ Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Item 7.01. Regulation FD Disclosure. Commercial Vehicle Group, Inc. has retained an investment banking firm to explore strategic alternatives for our Industrial Automation business. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.   COMMERCIAL VEHICLE GROUP, INC. June 6, 2024 By: /s/ Aneezal H. Mohamed Name: Aneezal H. Mohamed Title: Chief Legal Officer EX-101.SCH 2 cvgi-20240605.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 3 cvgi-20240605_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Written Communications Written Communications Security Exchange Name Security Exchange Name Title of 12(b) Security Title of 12(b) Security Local Phone Numb