UC Investors Acquires UniBoring Company

Howell, MI - UC Investors, Inc, an investment group led by experienced automotive executives headed by Bruce R. Swift; The Carlyle Group, and The Relativity Fund/JME, have agreed to purchase substantially all of the assets of UniBoring Company, Inc. via a Section 363 bankruptcy sale process. The company is an automotive component machining and manufacturing operation with approximately 500 employees and three facilities in southeast Michigan. The new ownership will change the name of the company to Diversified Machine, Inc.

Mr. Swift, an automotive industry veteran who has held key executive positions in the industry including with Ford and Honda, is the new company’s chief executive officer. Stephen M. Bay, a former vice president at Metaldyne and Simpson Industries is Diversified Machine’s chief operating officer, and Shankar Kiru, who held executive positions at Covisint and Allied Signal, is the chief financial officer.

Mr. Raymond Whiteman, a Managing Director of The Carlyle Group stated: "We look forward to working with Bruce Swift and his management team and to providing Diversified Machine with the resources to position the company as a world-class supplier."

Mr. Bruce Swift, CEO of Diversified Machine, Inc., said two major factors attracted the team to this company. "First, it has an experienced, talented workforce that has combined quality products with professional service to attract a substantial customer base. Second, the value-added component machining segment continues to grow, driven by the outsourcing trends of the major OEMs and their tiers."

Diversified Machine manufactures, machines, and assembles power train, transmissions and suspension components and modules for automotive customers. Primary products include engine blocks, cylinder blocks and heads, intake and exhaust manifolds, transmission components and a variety of other powertrain components. Its facilities are located in the southeast Michigan communities of Howell, Detroit and Canton.

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