Atar Capital Completes Carve-Out Acquisition of BorgWarner’s North American Controls Business

LOS ANGELES — January 6, 2022Atar Capital, a Los Angeles-based global private investment firm,
announced today it has completed the carve-out acquisition of BorgWarner’s North American Controls
(BWNAC) business, a wholly owned and operated division of BorgWarner (NYSE: BWA).
Headquartered in Detroit, Michigan, with manufacturing located in Water Valley, Mississippi, the
business is a leading supplier of transmission solenoids, engine solenoids, stop-start accumulators and
hydraulic control modules throughout North America.

Cyrus Nikou, founder and managing partner of Atar Capital, said, “Atar is excited to complete this carve-
out with BorgWarner and acquire such an impressive world-class operation. As a standalone company,
BWNAC will focus on a growth and diversification strategy, leveraging its market-leading position
serving blue-chip automotive and commercial vehicle OEMs, such as Cummins Engine, Ford Motor
Company, General Motors and Stellantis.”

Through this acquisition, Atar Capital confirms the appointment of automotive industry veteran, Ramzi
Hermiz, as a Board Member of BWNAC and interim CEO, while the search for a permanent CEO is
conducted. Hermiz was formerly a Board Member and CEO of Shiloh Industries and held several
executive and C-level positions during his 22 years at Federal-Mogul Corporation.

“Atar Capital could not be more excited about the opportunities that lie ahead for the new company,” said
Vijay Mony, managing director at Atar Capital. “We welcome Ramzi as a Board Member and thank him
for stepping in as the interim CEO, leading the transition of BWNAC to a standalone company. We
believe combining an experienced leader like Ramzi with the engineering and manufacturing expertise of
BWNAC will help create new opportunities and further the company’s leadership position in the market.”

Atar’s investment team for the transaction included Founder and Managing Partner Cyrus Nikou, Senior
Managing Director Robert Lezec, Managing Directors Stanley Huang and Vijay Mony, Director T.J.
McCaffrey and Vice President Roman Zelinsky. Dykema provided legal counsel, Ducker International provided market analysis and BDO supplied quality earnings, information technology and general operations transaction support.

About Atar Capital

Atar Capital is a global private investment firm that acquires a wide range of lower middle market
businesses exhibiting opportunities for growth, revitalization and significant value creation. Atar Capital’s
principals have completed more than eighty-five private equity transactions across North America,
Europe and South America.

Atar Capital’s combination of operational expertise, industry knowledge and investment experience
provide a unique edge in creating value and working as a true partner with its portfolio companies. The
firm assists in activities ranging from growing the business to improving operations and financial
performance, leveraging all available resources and talent within Atar’s leadership team, as well as its
bench of seasoned senior advisors with deep sector and functional expertise. For more information, please

Media Contact:
Patricia Kilgore
Sterling Kilgore, Inc.

Atar Capital Contact:
T.J. McCaffrey
Atar Capital