Client Profile
ATC (American Technology Components) Acquisitions, LLC seeks to purchase automotive electronic component companies to expand its portfolio of automotive and recreational vehicle products and services companies. ATC Companies manufacture audio/video controls, switch controls, electronic controls, RF controls, interior and exterior 12V lighting, wiper systems and components, 12V accessories, and molded convenience products. Components and materials are designed for recreational, marine, truck, transit, van, and trailer assemblers.
The Challenge
ATC Acquisitions sought to acquire KIB Electronics, a 40+ year engineering and manufacturing firm of electronic components for vehicles. KIB’s significant assets and customer list would assist ATC with its goals of further expanding its portfolio of component manufacturing companies in the Midwest.
Study Results
ATC Acquisitions hired McGuire Sponsel to negotiate and procure economic incentives on their behalf in support of the company’s considered growth and expansion. McGuire Sponsel assisted ATC with a financial analysis for multiple sites including Indiana and Michigan. McGuire Sponsel negotiated and worked with the Indiana Economic Development Corporation (IEDC) to procure tax credits and incentives to assist with the expanded operations in Elkhart, IN. The company, with the guidance and collaboration of McGuire Sponsel’s Credits and Incentives team, requested and received EDGE tax credits from the State of Indiana for its projected job growth – an estimated 130 employees.
State and Local Incentives
- $900,000 Economic Development for a Growing Economy (EDGE) Tax Credit
$900,000 Total Incentives