Meritor, Inc.

Meritor, Inc.

Meritor, Inc.

Overview
Date Founded

1909

Headquarters

2135 WEST MAPLE ROAD, TROY, MI, 480847186

Type of Company

Public

Employees (Worldwide)

8,600

Industries

Auto Parts & Tires
Industrial Machinery & Manufacturing
Automobiles
Management Consulting

Company Description

Meritor, Inc. engages in the design, production and trade of integrated systems, modules and components to equipment manufacturers. It operates through the following segments: Commercial Truck and Trailer and Aftermarket and Industrial. The Commercial Truck and Trailer segment supplies drivetrain systems and components, including axles, drivelines and braking and suspension systems, for medium- and heavy-duty trucks and other applications. The Aftermarket and Industrial segment provides axles, brakes, drivelines, suspension parts and other replacement parts to commercial vehicle and industrial aftermarket customers in North America and Europe. The company was founded in 1909 and is headquartered in Troy, MI.

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Executives & Employees

President, Chief Executive Officer & Director

Executive Chairman

Chief Financial Officer & Senior Vice President

Vice President & Chief Technology Officer

Vice President & Chief Information Officer

Senior Vice President, Chief Legal Officer & Corporate Secretary

Vice President & Chief Human Resources Officer

Vice President, Controller & Chief Accounting Officer

Senior Vice President & President, Industrial & North America Aftermarket

Vice President of North America Aftermarket

Board of Directors

Executive Chairman at Meritor, Inc.

Co-Founder at GenNx360 Capital Partners

Founder at Pittsburgh Technology Council

Former Purchasing Controller at Ford Motor Company

Senior Vice President & Chief Financial Officer at Owens-Illinois Master Retirement Trust

President, Chief Executive Officer & Director at Meritor, Inc.

Chief Technology Officer at Sensata Technologies, Inc.

Former Chief Operating Officer & Executive Vice President at Flowserve Corp.

Senior Partner at McKinsey & Co., Inc.

Former Senior Partner at McKinsey & Co., Inc.

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Meritor, Inc.
Owners & Shareholders
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Glenview's investment process employs deep, fundamental research and individual security selection primarily within equity and credit-oriented strategies. The firm employs a GARP investment approach that focuses on companies in stable industries, with recurring revenue streams or entrenched market positions. They may also focus on contrarian investments (cyclical or company specific). Glenview often combines GARP and contrarian investing when a steady growth business emerges within a company as the dominant economic force over a more challenged business unit. GCM invests in stored or hidden value situations, where excess balance sheet capacity may be used to accelerate returns or where contractual rights or startup operations show no present value but may be significant drivers of value tomorrow. In addition to long equity investments, GCM commits significant capital to short equity positions. They look for companies whose industries face cyclical, transitory or secular headwinds, whose competitive position is likely to erode over the near- to medium-term, and companies whose liquidity profile will potentially create equity value impairment or cause future issuance of additional equity at lower prices. GCM may also maintain short positions in equity index futures or other index products to reduce net market risk. The firm also engages in long and short credit positions with emphasis on business or asset stability over growth. They may seek to reduce the risk through other hedges that protect the overall portfolio of the funds, including interest rates, foreign currencies or sovereign, corporate or asset-backed credit spreads.

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Towle primarily manages assets using a focused, long-only, equity strategy that they call Towle Deep Value. This strategy executes a fundamental, investment discipline that emphasizes the purchase of companies believed to be substantially undervalued relative to their private market worth and normalized earnings power. The bottom-up selection process strives to identify and invest in out-of-favor companies with significant appreciation potential over the long-term. Paramount to this endeavor is a contrarian and independent viewpoint. Investments are made in industries such as financial services, manufacturing, distribution, consumer products, transportation, and energy, among others. The firm does not invest in tobacco, liquor, or gaming companies.

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IECM manages the Intrinsic Edge Funds which generally invest in US domestic equities and seek to generate positive risk-adjusted returns. The firm’s investment decisions for each Intrinsic Edge Fund are based on the investment objectives as stated in the respective private placement memoranda, limited partnership agreements, investment management agreements or any other organizational documents, as applicable. The Intrinsic Edge Funds’ primary strategy employs a fundamentals-driven investment approach that focuses on both near-term and long-term economic prospects of the target companies. The funds’ investment universe is generally comprised of US domiciled companies that can be valued through traditional fundamental metrics. Companies targeted by IECM for equity investments are generally growth-oriented.

Recent Transactions
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Meritor, Inc. purchases AxleTech International, Inc. from The Carlyle Group LP (Corporate Private Equity)

Details Hidden

WABCO Holdings, Inc. purchases Meritor Wabco Vehicle Control Systems from Meritor, Inc.

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Meritor, Inc. purchases Fabco Holdings, Inc.

Insider Transactions
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Transaction Advisors
Accountant

Advised onMeritor, Inc. purchases Arvin Industries, Inc.

Investment Advisor

Advised onWABCO Holdings, Inc. purchases Meritor Wabco Vehicle Control Systems from Meritor, Inc.

Investment Advisor

Advised onWillis Stein & Partners LP purchases Precoat Metals Corp. from Meritor, Inc.

Professional

Advised onMeritor, Inc. issued USD Common Stock

Lead Manager

Advised onMeritor, Inc. issued USD Common Stock

Legal Advisor

Advised onThe Renco Group, Inc., Inteva Products LLC purchase Arvinmeritor, Inc. /Body Systems Business from Meritor, Inc.

Advisors & Consultants
Legal Advisor

Partner at Winston & Strawn LLP

Legal Advisor

Partner at Gibson, Dunn & Crutcher LLP

Legal Advisor

Partner at Chadbourne & Parke LLP

Clients

Ford Motor Co. engages in the manufacture, distribution, and sale of automobiles. It operates through the following three segments: Automotive, Mobility, and Ford Credit. The Automotive segment engages in developing, manufacturing, marketing and servicing of Ford cars, Lincoln vehicles. The Mobility segment includes Ford Smart Mobility LLC and autonomous vehicles business. The Ford Credit segment comprises Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities. The company was founded by Henry Ford on June 16, 1903 and is headquartered in Dearborn, MI.

Volkswagen AG engages in the production and sale of passenger cars and light commercial vehicles. The firm also develops vehicles and components for the brands of the group. It operates through following segments: Passenger Cars, Commercial Vehicles, Power Engineering, and Financial Services. The Passenger Cars segment covers the development of vehicles and engines; production and sale of passenger cars and light commercial vehicles; and the corresponding genuine parts business. The Commercial Vehicles segment covers the development, production, and sale of light commercial vehicles, trucks, and buses; and the corresponding genuine parts business and related services. The Power Engineering segment deals with the development and production of large-bore diesel engines, turbo compressors, industrial turbine,s and chemical reactor systems; and the production of gear units, propulsion component,s and testing systems. The Financial Services segment involves dealer and customer financing, leasing, banking, insurance, fleet management services. The company was founded on May 28, 1937 and is headquartered in Wolfsburg, Germany.

Henry Crown & Co. provides investment advisory services. It manages investments in banking, transportation, oil and gas, cellular phones, home furnishings, and resort properties. The company is headquartered in Chicago, IL.

Key Stats and Financials As of 2020
Market Capitalization
$1.95B
Total Enterprise Value
$2.6B
Earnings Per Share
$3.24
Revenue
$3.04B
Enterprise Value / Sales
0.85x
Enterprise Value EBITDAOperating
11.6x
TEVNet Income
10.62x
EBITDAMargin
7.16%
Net Profit
$245M
EBITDA
$218M
Total Debt
$1.3B
Total Equity
$495M
Debt TEV
0.5x
Three Year Compounded Annual Growth Rate Of Revenue
-3.11%
Non-Profit Donations & Grants
$3,000 - $4,999
2019
$1,000 - $4,999
2017
Suppliers
Grupo SIMEC SAB de CV Industrial Machinery & Manufacturing | Guadalajara, Mexico

SIMEC has sought to maintain a conservative financial profile, reinvesting 100 percent of profits in steel industry-related projects, and has pursued a low debt and aggressive expansion policy, which has assured the company a healthy financial situation and solid positioning. Since 2001, has acquired companies that have established Simec's as a leading producer of special steels in Mexico and the United States, as well as in the rebar, merchant and structural shapes in Mexico. Due to our capacity to generate cash flow and the prepayment of debts with our own operating resources, SIMEC has maintained one of the strongest capital structures in the industry, as well as solid liquidity and financial ratios, since it was acquired by the present administration in 2001, up to today.

Bharat Forge Ltd. Aerospace & Defense | Pune, India

Bharat Forge Ltd. engages in the manufacture of forged and machined components. The firm operates through the following segments: Forgings and Others. The Forging segment produces and sells forged products for the automotive and industrial sector. The Others segment comprises of non-forging related activities. It provides products for the automotive, power, oil and gas, rail, marine, aerospace, construction and mining and e-mobility businesses. The company was founded by Neelkanthrao Kalyani on June 19, 1961 and is headquartered in Pune, India.

Sypris Solutions Inc. Auto Parts & Tires | Louisville, KY

Sypris Solutions, Inc. engages in the provision of truck components, oil and gas pipeline components, and aerospace and defense electronics. It operates through Sypris Technologies and Sypris Electronics segments. The Sypris Technologies segment is involved in selling of forged, machined, welded, and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. The Sypris Electronics segment includes circuit card and full box build manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work. The company was founded in 1997 and is headquartered in Louisville, KY.

Competitors
Berkshire Hathaway, Inc. Other Insurance Services - Greenwich, Connecticut

Berkshire Hathaway, Inc. engages in the provision of property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, and retailing services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segment involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

Allison Transmission Holdings, Inc. Auto Parts & Tires - Indianapolis, IN

Allison Transmission, Inc. (Allison) is the premier global provider of commercial duty automatic transmissions and hybrid propulsion systems. Allison products are specified by over 250 of the world’s leading vehicle manufacturers and are used in many market sectors including bus, refuse, fire, construction, distribution, military and specialty applications. Founded in 1915, the Allison business is headquartered in Indianapolis, Indiana, U.S.A. and employs approximately 2,800 people. Regional headquarters with dedicated support staff are located in China, the Netherlands, Brazil, India and Japan. With a global presence in 80 countries, Allison has over 1,500 distributor and dealer locations.

Dana, Inc. Auto Parts & Tires - Maumee, OH

Dana, Inc. engages in the manufacture, distribution, and sale of technology drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products. It operates through the following segments: Light Vehicle, Commercial Vehicle, Off-Highway, and Power Technologies. The Light Vehicle segment includes drivetrain systems and components for passenger cars, crossovers, sport utility vehicles, vans, and light trucks. The Commercial Vehicle segment comprises of drivetrain and tire-pressure management systems, as well as genuine service parts, for medium and heavy-duty commercial vehicles. The Off-Highway segment offers drivetrain systems and individual product solutions under Spicer brand, and motion systems for associated machine working functions and stationary industrial equipment under Brevini brand. The Power Technologies segment consists of sealing solutions and thermal management technologies for reducing fuel consumption and emissions. The company was founded by Clarence W. Spicer on April 1, 1904 and is headquartered in Maumee, OH.

Awards & Honors
Rank #647
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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