AGM and Trive Capital are proud to announce that a subsidiary of AGM has partnered with an affiliate of CROSS Industries AG (“CROSS”), Durmont. AGM acquired a controlling interest in Durmont, with CROSS retaining a meaningful stake and remaining as a long-term strategic partner for the Company. Founded in 1973 and headquartered in Hartberg, Austria, Durmont is a leading carpet supplier for the European automotive industry.
AGM’s new partnership with Durmont will establish a European manufacturing facility for the Company to complement its existing operations in Asia and the Americas, further strengthening AGM and Dumont’s European and global growth strategy. In addition, the Durmont investment will augment AGM’s technical and engineering expertise in its textiles business unit.
AGM AUTOMOTIVE, INC.
AGM Automotive, LLC (“AGM”) is a leading global supply partner headquartered in Troy, Michigan with additional facilities located in North America, Asia, and Europe. The Company provides interior components and systems, including interior lighting, overhead console systems, textile flooring sets, and other interior assemblies, such as electronic components and wire harnesses, to the automotive marketplace. AGM offers value-added assembly, warehousing, and in-line vehicle sequencing services through its global network.
Trive Capital is a Dallas, Texas-based private equity firm focused on making control private equity investments in companies based in the US and Canada. Trive is currently investing from a $300 million institutional fund raised in 2013. Trive utilizes proven operational best practices and identifies actionable opportunities that allow businesses, shareholders and employees to realize their full long-term potential. Trive made an investment in AGM in January 2014 to support AGM's future growth initiatives, and has subsequently assisted AGM in completing two add-on acquisitions.
DURMONT TEPPICHBODENFABRIK GMBH
Durmont Teppichbodenfabrik GmbH (“Durmont”) is a leading European carpet supplier for the automotive industry based in Hartberg, Austria. Superior product quality, production capabilities, engineering expertise, and experience in manufacturing automotive products makes Durmont a preferred Tier 1 supplier to major European original equipment manufacturers.