Excerpt from Crain’s Detroit —
Piston Group closed Wednesday on the $175 million acquisition of Takata Corp.subsidiary Irvin Automotive Inc.
The deal, first reported by Crain’s earlier this week, propels the Redford Township-based supplier owned by former Detroit Pistons guard Vinnie Johnson into a full-fledged manufacturer.
Detroit entrepreneur Vinnie Johnson has acquired Irvin Automotive Products, creating one of the largest privately-owned automotive supplier groups in Michigan.
Johnson’s expanded Piston Group of companies is expected to post record sales of more than $1.8 billion in 2016 with 8,300 employees at 15 facilities in the United States and Mexico. Other companies in the group include Piston Automotive, Detroit Thermal Systems and AIREA, Inc.