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    Lumileds to sell its Lamps and Accessories business to First Brands Group
    Lumileds LLC, an LED manufacturer and a solution provider for the global automotive, illumination, display and flash markets, and First Brands Group LLC, a global automotive parts manufacturer serving the worldwide automotive aftermarket, announced that they have entered into an agreement for First Brands to acquire the Lamps and Accessories business of Lumileds for $238 million, according to a press release dated May 17. Under First Brands, the Lamps and Accessories business will continue ...
    Aftermarket supplier Transtar sells subsidiary The CoverFlexx Group to Axalta
    US-based automotive aftermarket supplier Transtar Holding Co. has announced that Axalta Coating Systems, a global coatings company, has signed a definitive agreement to acquire The CoverFlexx Group, a subsidiary of Transtar. The transaction is anticipated to close in the third quarter, pending regulatory approval and customary closing conditions. The CoverFlexx Group specializes in manufacturing and distributing coatings for automotive refinish and aftermarket applications. Brands under the c...
    LKQ to sell Polish distributor Elit Polska to Swedish distributor Meko
    LKQ Corp., a Chicago, US-based provider of alternative and specialty parts and services for automobiles and other vehicles, announced in a press release on May 10 that it has entered into a definitive agreement to sell Elit Polska, a Poland-based distributor of automotive parts, consumables and workshop equipment, to Meko. Meko (previously Mekonomen Group) is an automotive spare-parts distributor based in Sweden. The company operates across eight markets through its group brands FTZ, Inter-Te...
    Genuine Parts Co. acquires US-based Motor Parts & Equipment Corp.
    Genuine Parts Co., a global distributor of automotive and industrial replacement parts, has announced an acquisition for its US Automotive business, stating that effective April 30, the company acquired Motor Parts & Equipment Corp. (MPEC), according to a press release dated May 1. MPEC, founded in 1938, is based in Rockford, Ill. It is said to be the largest independent owner of NAPA Auto Parts stores in the US, operating 181 locations across Illinois, Indiana, Iowa, Michigan, Minne...
    US-based repair facility Grease Monkey partners with Oilex Operating
    Grease Monkey, a US-based automotive aftermarket repair facility and flagship brand of aftermarket service provider FullSpeed Automotive, has announced a signed agreement that transitions ownership of seven stores in Arizona, US, and Colorado, US, to a firm called Oilex Operating, according to a press release dated April 29. Oilex Operating is headed by President Ron Morrow Jr, who has decades of experience with Grease Monkey, as his father was once the largest franchisee of the bra...
    US-based Solero Technologies to acquire Kendrion’s Automotive business
    Atar Capital, a Los Angeles-based global private investment firm, announced that Solero Technologies has signed an agreement with Kendrion to acquire Kendrion’s Automotive business in Europe and the US, according to a press release dated April 15. Solero Technologies will effectuate the transaction with support from Atar Capital. Solero Technologies is a global supplier of transmission solenoids, engine solenoids, stop-start accumulators and hydraulic control modules to automotive...
    Continental acquires mold specialist for CV and specialty tires
    Continental has announced that it has acquired the mold manufacturing specialist EMT Púchov s.r.o. based in Slovakia, according to a press release dated April 8. EMT is a manufacturer of special tire molds, especially for commercial vehicle and specialty tires. The company specializes in the milling of molds made of steel.  All 107 employees, who have specialist knowledge in mold manufacturing, have been taken on by Continental. Further details of the agreement were not disclosed. With ...
    American Industrial Partners completes acquisition of Veoneer
    Automotive technology company Veoneer announced that the American Industrial Partners Capital Fund VII (AIP Fund VII) has completed the acquisition of Veoneer's Restraint Control Systems business from SSW Partners LP, according to a press release dated March 1. The deal was first announced on Dec. 6, 2023. Veoneer claims to be a market leader in automotive safety electronics. It said that in the past year, nearly one in every four cars that left production lines globally was equipped wit...
    Automotive retailer Lithia & Driveway acquires Carousel Motor Group
    Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that it has purchased Carousel Motor Group, growing its footprint in one of the largest markets in the North Central Region, Minneapolis-St. Paul, according to a press release dated Feb. 27. The group, comprised mainly of premium luxury brands, is projected to generate more than $900 million in annualized revenue. "We are excited to e...
    Japan’s Sojitz Corp. acquires Panama’s Silaba Motors
    Sojitz Corp., a Japan-based company engaged in trading business, investment and financial activities, announced that it has acquired full ownership of Silaba Motors SA, a company primarily engaged in sales of Kia and Mazda vehicles, to enter the car dealership business in Panama, according to a press release dated Feb. 21. Established in 1991, Silaba Motors is an authorized automotive import wholesaler and dealership operator. According to the release, Silaba Motors’ strength lies in its on...
    Automotive retailer Lithia & Driveway completes transaction with Pendragon
    Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that it has completed the transaction with Pendragon PLC, to be renamed Pinewood Technologies Group PLC, according to a press release dated Feb. 1. With the move, the company has acquired the UK Motor and Fleet Management divisions of Pendragon, the UK's third-largest automotive dealership group, and formed a strategic partnership with P...
    US-based Clarience Technologies acquires Safe Fleet to expand safety technology portfolio
    Clarience Technologies, a US-based provider of visibility and safety technology solutions for transportation, announced that it has acquired Safe Fleet, a company involved in safety solutions for fleet vehicles, according to a press release dated Feb. 15. “Clarience Technologies and Safe Fleet share a common mission of making transportation safer and smarter through technology. The acquisition of Safe Fleet provides our company with critical technologies, deep vocational segment expertise a...
    US-based Galleher Industries acquires replacement truck body-parts maker Fleet Parts & Services
    US-based Galleher Industries has announced the acquisition of Fleet Parts & Service Inc. as part of its efforts to broaden its national network and product portfolio to support truck body and trailer original equipment manufacturers, and fleet operators, according to a press release dated Feb. 15. Founded in 1937, Galleher manufactures and distributes lumber and fabricated metal components to truck body and trailer OEMs. Galleher is backed by Boyne Capital Partners, a Florida, US-based pr...
    Schaeffler acquires additional stake of 9% in Vitesco
    Schaeffler AG announced that it has entered into an agreement with BofA Securities Europe SA to acquire a stake of 3.6 million shares in Vitesco Technologies Group AG, according to a press release dated Jan. 23. This corresponds to a total stake of approximately 9.00% in Vitesco. BofA Securities Europe SA had acquired the shares in the market in connection with the Total Return Swap following Schaeffler's announcement of the public tender offer. The price of the additional shares acquired is ...
    US-based Patrick Industries acquires powersport supplier Sportech
    Patrick Industries Inc., a component solutions provider for the Outdoor Enthusiast and Housing markets, announced that it has signed a definitive agreement to acquire Sportech for approximately $315 million, according to a press release dated Jan. 11. The transaction is expected to close on or before Jan. 24, and is subject to customary closing conditions and regulatory approval. Sportech, based in Elk River, Minn., is a designer and manufacturer of high-value, complex component solutions to ...
    US-based Straightaway Tire & Auto makes two new acquisitions
    O2 Investment Partners announced that Straightaway Tire & Auto, an independent, full-service aftermarket automotive repair and service platform, has completed the acquisitions of Maple Grove Auto Service and Warzecha Auto Works, according to a press release dated Jan. 17. Terms of the transactions were not disclosed. Maple Grove is a full-service auto repair facility that has been serving the Maple Grove, Minn., market for over four decades, and Warzecha is a full-service auto repair faci...
    Dover acquires Canadian car wash chemicals provider Transchem group
    Dover announced that it has completed the acquisition of Transchem Group, one of the largest suppliers of car wash chemistry and associated solutions in North America, according to a press release dated Jan. 17. Transchem is now part of OPW's Vehicle Wash Solutions business (OPW VWS) within Dover's Clean Energy & Fueling segment. Dover is a diversified global manufacturer and solutions provider offering equipment and components, consumable supplies, aftermarket parts, software, and d...
    Micronics expands filtration solutions with acquisition of Solaft
    Vance Street Capital's portfolio company, Micronics Engineered Filtration Group, a global provider of aftermarket filtration consumables, has acquired Solaft Filtration Solutions, an innovative and vertically integrated global industrial filtration solutions provider, according to a press release dated Jan. 4. The acquisition expands Micronics' portfolio of engineered filtration solutions and geographic footprint, allowing the company to better serve its global customers' filtration needs in ...
    PHE Group acquires majority stakes in Spanish companies AD Egido and AD Masanes
    The PHE Group, through its subsidiary AD Parts Intergroup, has acquired significant stakes in two Spanish companies, AD Egido and AD Masanes, expanding its presence in the country, according to a press release dated Jan. 9. AD Egido, based in the San Sebastián region of Spain, operates seven sites and a repair network of 60 workshops, with a turnover of approximately €12 million in 2022. The acquisition of 88% of AD Egido's capital strengthens PHE Group's position in Spain, where it has be...
    B&R Auto announces three acquisitions and new executive appointment
    B&R Auto, a US-based value-added provider of recycled automotive parts and a portfolio company of Highview Capital, has announced the acquisitions of American Auto Recycling (American Auto), New Way Auto Sales & Parts (New Way) and Charlie's Towing (Charlie's), according to a press release dated Jan. 4. The acquisitions of American Auto and New Way expand B&R's business into Arizona, US, while the acquisition of Charlie's grows B&R's existing footprint in Oregon, US, the release ...
    Schaeffler secures 29.88% of Vitesco with its public tender offer
    Schaeffler AG has announced the final result of the voluntary public tender offer for all outstanding shares of Vitesco Technologies Group AG, according to a press release dated Dec. 20. Until the end of the acceptance period on Dec. 15, 2023, 11,957,629 Vitesco shares have been tendered to Schaeffler, corresponding to 29.88% of the share capital and voting rights in Vitesco, the company said. Together with the 49.94% stake held by IHO Holding, the strategic management holding of the Schaeffl...
    Spare parts logistics player DANX expands in Sweden with acquisition of FOMAB
    Denmark-based spare parts logistics provider DANX, part of the Danx Carousel group, announced that it has acquired Forslund & Malmström (FOMAB), a final-mile distribution services provider in Northen Norrland, Sweden, according to a press release dated December 12. The acquisition aims to strengthen DANX's foothold in Sweden through the expansion of its fleet and final mile capabilities. FOMAB specializes in distributing goods to remote areas of Northen Sweden, including Luleå, Gälliva...
    US-based heavy-duty aftermarket firm High Bar Brands’ ownership changes hands
    High Bar Brands (HBB), a US-based manufacturer and distributor of high-quality commercial vehicle solutions for the heavy-duty trucking industry, with its portfolio of brands, including Minimizer, Premier Mfg., Dieter’s Accessories, Panelite, and Viking Sales, has announced its strategic recapitalization with Sentinel Capital Partners, according to a press release dated December 20. As part of the move, Sentinel, a New York-based alternative asset manager has acquired HBB from Heartwood Partne...
    US retailer O’Reilly Automotive to acquire Canadian parts distributor Vast-Auto
    O’Reilly Automotive, a US-based automotive aftermarket parts retailer, has announced that it will acquire Canadian auto parts distributor Groupe Del Vasto, according to a press release dated December 18. O’Reilly Automotive has entered into a definitive stock purchase agreement with the shareholders of Groupe Del Vasto to acquire all the outstanding shares of the company. Groupe Del Vasto operates as Vast-Auto Distribution (Vast-Auto). Founded in 1986, Vast-Auto Distribution is involved i...
    US-based Brown & Brown acquires Automotive Business Solutions
    US-based Brown & Brown Inc., an insurance brokerage firm delivering risk management solutions, announced that the company has acquired ABS Risk LLC and ABS Operations (collectively: ABS), according to a press release dated Dec. 8. ABS is an administrator of warranty products in the automotive aftermarket providing nationwide parts and labor repair warranties, national road hazard programs and component-specific warranties. The acquisition was made via Brown & Brown Dealer Services (...
    TMD Friction confirms successful acquisition by Aequita
    In a press release announcement on Dec. 5, TMD Friction, a specialist for high-quality brake friction solutions for the automotive and brake industry, has confirmed the successful completion of its acquisition by Aequita, a privately-owned industrial group based in Munich, focused on the acquisition and long-term value enhancement of companies. The company said that the transaction has closed successfully after receiving the required regulatory clearances and approvals from all relevant autho...
    Hella acquires full ownership of Hella Pagid from TMD Friction
    TMD Friction and Hella have agreed to transfer the 50% share held by TMD Friction in the brake joint venture Hella Pagid to Hella. The two companies signed a letter of intent, making Hella the sole shareholder of Hella Pagid, according to a press release dated Dec. 1. Founded in 2013, Hella Pagid sells brake components and accessories on the global automotive aftermarket. The parties have agreed not to disclose the purchase price. Stefan van Dalen, managing director of Lifecycle Solutions and...
    US-based Straightaway Tire & Auto acquires Accurate Auto and Wayne’s Automotive
    O2 Investment Partners have announced that Straightaway Tire & Auto, an independent, full-service aftermarket automotive repair and service platform, has completed the acquisitions of Accurate Auto & Tire Service and Wayne’s Automotive, according to a press release dated Nov. 29. The terms of the transactions were not disclosed. Accurate Auto is a full-service auto repair facility that has been serving the Maple Grove, Minn., market for over 25 years, and Wayne’s is a full-service...
    Schaeffler and Vitesco sign business combination agreement
    Schaeffler AG has entered into a business combination agreement (BCA) with Vitesco Technologies Group AG to jointly create a leading Motion Technology Co., according to a press release dated Nov. 27. Under the BCA, Vitesco will constructively support the overall transaction, including the ongoing public tender offer by Schaeffler and the subsequent merger of Vitesco with Schaeffler, the release added. Meanwhile, the executive board and supervisory board of Vitesco Technologies have published ...
    BM Catalysts expands UK operations with new warehouse acquisition
    UK-based manufacturer of aftermarket emissions products, BM Catalysts, has announced the acquisition of a new warehouse facility in the UK, located near its Fulwood Rise production plant in North Nottinghamshire, UK, according to a press release dated Nov. 23. The new facility spans over 41,000 square feet and marks the fifth location for the company in the UK, providing a combined manufacturing and warehousing space of over 214,000 square feet. The company said the acquisition demonstrates t...
    Schaeffler publishes offer document for outstanding shares of Vitesco
    German automotive and industrial component supplier Schaeffler AG has announced that following approval by the German Federal Financial Supervisory Authority (BaFin), Schaeffler AG has published the offer document for the voluntary public tender offer for all outstanding shares in automotive supplier of electric mobility and powertrain components Vitesco Technologies Group AG, according to a press release dated Nov. 15. The company had announced its bid in October. Vitesco shareholders can ac...
    US-based aftermarket time drive systems maker Cloyes acquires Rotomaster
    Cloyes Gear & Products, Inc. (Cloyes), a firm involved in designing and manufacturing timing drive systems and components for the automotive aftermarket, has acquired Rotomaster, a global turbocharger and component specialist, according to a press release dated according to a press release dated October 30. Rotomaster, founded in 1978, has a diverse portfolio of complete assemblies, individual components, and service kits for diesel and gas-powered applications, covering over 75% of the a...
    LKQ sells GSF car parts to UK Private Equity Fund
    US-based distributor of replacement parts, components and systems LKQ Corp. announced that it has sold GSF Car Parts to Epiris Fund III, a private equity fund based in the UK, according to a press release dated October 25. The company said the divestiture fulfills its obligation to the UK's Competition and Markets Authority to sell the GSF business in connection with LKQ's acquisition of Uni-Select Inc. The terms of the transaction were not disclosed. Significance: Commenting on ...
    US-based aftermarket entity The Aeromotive Group merges with Roadster Shop
    US-based custom vehicle and chassis manufacturer, Roadster Shop, has acquired US-based aftermarket group, The Aeromotive Group, according to a press release dated October 19. The company will combine the strength of both brands to drive the development of innovative products, services and content, and will leverage a robust financial and operational foundation to support its growth, the release added. Roadster Shop has been building vehicles and chassis for street and performance driving for ...
    Vitesco Technologies says it will evaluate Schaeffler’s offer of buyout
    Global automotive supplier of electric mobility and powertrain components Vitesco Technologies has announced that its executive board and supervisory board will comply with their fiduciary duties to evaluate the voluntary public purchase offer for all outstanding shares of Vitesco Technologies and the merger of Vitesco Technologies into Schaeffler AG intended by Schaeffler, according to a press release dated October 17. The company said that its boards have noted the concerns that Vitesco Tec...
    Air-powered tools and accessories firm P&F Industries gets acquired by ShoreView
    P&F Industries announced that it has entered into a definitive agreement to be acquired by ShoreView Industries in an all-cash transaction for $13.00 per share, which represents an approximately 97% premium to the closing stock price of the company's stock on Oct. 12, 2023, according to a press release dated October 13. P&F Industries is a manufacturer and importer of air-powered tools and accessories sold principally to the aerospace, industrial, automotive and retail markets. The co...
    Schaeffler makes €3.6 billion bid to buy Vitesco Technologies
    Schaeffler AG is offering to buy Vitesco Technologies Group AG in a €3.64 billion deal that would bolster the German ball-bearings maker’s presence in the electric vehicle supply chain, Yahoo Finance reported October 9, quoting news agency Bloomberg.  Schaeffler — whose shareholders already control almost half of Vitesco — said October 9 that it has offered €91 a share in cash for the company. The company expects the transaction to boost earnings before interest and taxes ...
    US-based Strickland Brothers acquires 24 Snappy Lube locations
    Strickland Brothers 10 Minute Oil Change (Strickland Brothers), a quick lube operator with over 178 locations across 27 states in the US, recently acquired 24 Snappy Lube locations across the state of North Carolina, US, according to a press release dated September 13. With this acquisition, the company has now surpassed 200 quick lube locations, the release added. The company plans to convert all 24 locations to Strickland Brothers 10 Minute Oil Change later in 2023. Strickland Brothers offe...
    Japan’s Sumitomo Rubber to reorganize its domestic aftermarket tire business
    Japan-based Sumitomo Rubber Industries has announced that it will reorganize its aftermarket domestic replacement tire business on April 1, 2024, according to a press release dated September 9. According to the plan, a new company, Dunlop Tire Co. Ltd., will oversee the domestic replacement tire business and the company will be taking over some functions from the Domestic Tire Replacement Sales Division of Sumitomo Rubber Industries including marketing and broad area sales marketing functions...
    Mobivia-owned distributor Carter-Cash acquires online retailer Yakarouler
    Mobivia, Europe’s largest independent provider of automotive maintenance and repair services, announced that Carter-Cash, brand of the Mobivia group, specializing in distribution of tires, auto parts and fast maintenance services at low prices, has merged with online retailer Yakarouler following the acquisition of Yakarouler’s assets in June 2021, according to a press release dated September 21. With the move, the Yakarouler brand will disappear, and Carter-Cash will absorb Yakarouler’...
    Automotive retailer Lithia & Driveway acquires UK’s Pendragon dealership group
    Lithia & Driveway, an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, has announced that it intends to enter in a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon PLC, the UK's third-largest automotive dealership group, according to a press release dated September 18. This acquisition will round out Lithia's presence in the UK market and is expected t...
    TI Fluid Systems to acquire Cascade Engineering Europe for $27.7 million
    Global supplier of automotive fluid-handling components TI Fluid Systems (TIFS) announced that it has agreed to acquire Cascade Engineering Europe (CEE), a Hungarian-based leader in the design and manufacturing of thermal-fluid connectors and other complex plastic injection-moulded components for the automotive industry, according to a press release dated September 5. CEE has a strong reputation for its technical expertise and product quality, with in-house capabilities from design and develo...
    South Korea’s SK Networks acquires SK Rent-a-car as a wholly owned subsidiary
    SK Networks, a subsidiary of South Korean petroleum conglomerate SK Group, engaged in the businesses of energy and information technology distribution as well as car rental, announced that it is bringing in SK Rent-a-car as a wholly owned subsidiary by owning 100% equity in the latter, according to a press release dated August 18. SK Networks currently holds 72.9% equity in SK Rent-a-car. SK Rent-a-car, launched as a consolidated legal entity between SK Networks’ Car Rental Business divisio...
    Exclusive: First Brands Group’s acquisition of Marelli Aftermarket falls through
    The acquisition of Magneti Marelli Parts & Service, the aftermarket division of Marelli Holding, by the US-based First Brands Group, has been terminated, according to industry sources. The purchase attempt by the Group, a global automotive parts manufacturer serving the worldwide automotive aftermarket through multiple brands, was reported by some news websites earlier in 2023 and was expected to be completed by April. First Brands markets and sells products through a portfolio of bran...
    Alliance Automotive Group UK acquires Tayna
    Alliance Automotive Group UK (AAG) has announced the acquisition of Tayna Ltd., a Welsh e-commerce platform focused on vehicle batteries, according to a press release dated September 1. The company said that with this acquisition, it aims to expand its battery distribution capabilities in the region. The acquisition would also allow it to develop its digital skill set in the long term.  Tayna, a digital e-commerce company based out of Wales, UK, and established in 2003, specializes in pr...
    UK-based Altilium Metals receives funding from SQM Lithium Ventures
    SQM Lithium Ventures, the corporate venture arm of the lithium business of Sociedad Quimica y Minera de Chile, the world's second-largest lithium producer, announced that it has invested $2,574,500 in Altilium, a UK-based clean technology group focused on supporting the transition to net zero, according to a joint press release dated September 12. The investment is part of Altilium’s Series-A funding round. Altilium is the second company to join the portfolio of SQM Lithium Ventures. The in...
    Automotive retailer Lithia & Driveway acquires UK’s Arden Motors
    Lithia & Driveway, an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced the acquisition of the Arden businesses representing BMW, MINI and Motorrad in Maidstone and Tunbridge Wells, according to a press release dated September 1. Commenting on the acquisition, Neil Williamson, Regional President, United Kingdom, said, “Following LAD’s entrance into the UK with the Jardine Motors Group earlier this year, we ...
    US-based Clarios to acquire German supplier Paragon's battery unit
    Clarios, a US-based supplier of energy storage solutions to original equipment (OE) manufacturers and the aftermarket, has announced that it will purchase Paragon GmbH & Co. KGaA's power business that produces batteries and battery management systems for the automobile industry, according to a press release dated August 30. Clarios is the parent company of Varta Automotive, a transportation battery brand in Europe. Paragon is a German supplier of battery systems, air-quality management, m...
    Tire distributor U.S. AutoForce acquires Pacific Tire Distributors
    U.S. AutoForce, a distributor of tires, undercar parts and lubricants to the automotive aftermarket, has announced that it will acquire Pacific Tire Distributors, headquartered in Portland, Ore., according to a press release dated August 22. The acquisition is expected to close on Sept. 11, 2023, the release added. Founded in 2004, Pacific Tire Distributors is one of the largest independently owned wholesale tire distributors in the Pacific Northwest. Based in Portland, it currently oper...
    Modine sells aftermarket application coatings plants in California and Florida
    US-based Thermal Solutions provider Modine, announced on August 29 the sale of facilities in Temecula, California, and Tampa, Florida, to Protecall. Both the facilities provide aftermarket application services in which HVAC units are coated with anti-corrosion protection, and the sale process is likely to be executed by end of September. According to Neil Brinker, President and Chief Executive Officer of Modine, "This sale continues the process we started in 2021 with the closure of our Pompa...
    German industrial group Aequita acquires TMD Friction
    TMD Friction, a supplier of brake-friction solutions for the automotive and brake industry, has announced its sale to Aequita, a global industrial group with headquarters in Munich said to have a strong automotive division, according to a press release dated August 22. Aequita has acquired TMD Friction from TMD’s Japanese parent company, Nisshinbo Holdings Inc. The transaction is expected to be completed in the fourth quarter of 2023. The financial details of the agreement are not bein...
    Canadian auto parts distributor Vast-Auto expands footprint
    Vast-Auto Distribution, a subsidiary of Groupe Del Vasto, a distributor and marketer of automotive parts in Eastern Canada and a shareholder of the Aftermarket Auto Parts Alliance, announced that it has acquired the assets of Pièces d’Autos Victo, Freins Démarreurs Plessis and Pièces d’Autos Thetford, an auto parts wholesalers group located in south-central Quebec, according to a press release dated August 14. Normand Roy, founder of the Quebec-based wholesaler, said he was deligh...
    US-based Kian Capital launches PARC Auto Platform
    Kian Capital Partners, a US-based private investment firm, announced that it has completed the acquisition of a Meineke Car Care Center franchisee in partnership with the management to establish a new platform in the general automotive repair space called PARC Auto, according to a press release dated August 17. PARC Auto currently includes 15 Meineke automotive care centers in the Louisville, Ky., metropolitan area. PARC Auto provides general automotive repair and maintenance with services in...
    Mahle sells its thermostat business to Admetos
    Stuttgart, Germany-based global supplier of powertrain and thermal components, Mahle, has announced that it plans to sell its thermostat business to the industrial and investment holding company Admetos, according to a press release dated August 18. The two sides have signed a contract to this effect at the beginning of August. Admetos intends to take over development and production with about 600 employees in six countries, the release added. The company added that the sales of thermostats i...
    Eaton renames Vehicle Group and eMobility businesses to Mobility Group
    Power-management firm Eaton has announced that its Vehicle Group and eMobility businesses will be called Mobility Group, according to a press release dated August 15. The name represents the company’s focus on providing solutions across the propulsion spectrum and meeting the evolving needs of its customers from internal combustion to electrified, or a combination of both. Eaton will continue to offer traditional powertrain solutions as manufacturers and the industry determine optimal propu...
    Alliance Automotive acquires Spanish spares distributor Gaudi
    Alliance Automotive Group (AAG), a European automotive aftermarket distributor, announced that it has acquired Spanish spares distributor Recambios y Accesorios Gaudí SL (Gaudi), according to a press release dated August 3. This acquisition confirms Alliance Automotive Iberia’s strategic foothold in the automotive aftermarket, previously represented by Lausan in Spain, and Soulima in Portugal, the release added. Gaudi is a company specialized in the independent distribution of spare p...
    LKQ Corp. completes acquisition of Uni-Select
    US-based distributor of replacement parts, components and systems, LKQ Corp., has announced the completion of the acquisition of Canada-based automotive aftermarket parts supplier Uni-Select, according to a press release dated August 1. Under the terms of the arrangement, the purchaser has acquired all of the issued and outstanding shares of Uni-Select for C$48.00 per share in cash. Following the completion of the transaction, the shares of Uni-Select will be delisted from the Toronto Stock E...
    US-based ITT invests €50M to expand its Friction brake pad facility
    ITT Inc., a US-based manufacturer of critical components and customized technology solutions for the energy, transportation and industrial markets, has announced an expansion of the production facility for its brake pad supplier brand Friction in Termoli, Italy, and an upgrade of its research and development capabilities in Barge, Italy, according to a press release dated June 22. The company aims to strengthen its position in the high-performance brake pads market for luxury and sporting veh...
    Pirelli acquires Hevea-Tec
    Pirelli signed an agreement to acquire 100% of Hevea-Tec, the biggest independent processor of natural rubber in Brazil. The operation will be on the basis of an Enterprise Value of around 22.9 million USD, subject to the usual adjustments at the closing - once certain conditions including approval from the Antitrust authorities have been met – which is expected to take place by the end of 2023. The acquisition will not impact the 2023 net financial position target of around 2.56 billion USD. ...
    BorgWarner Announces Completion of PHINIA Spin-Off
    “A tremendous amount of work has gone into bringing us to where we are today,” said Frédéric Lissalde, President and Chief Executive Officer, BorgWarner Inc. Two years ago, BorgWarner announced Charging Forward, the company’s strategy to accelerate its transition to electrification. That strategy included the disposition of $3B to $4B in combustion-related revenue by 2025. The completion of the spin-off of PHINIA combined with the 2022 sale of the North American controls business repr...
    Motor & Equipment Manufacturers Association announces opportunity for aftermarket startups
    Motor & Equipment Manufacturers Association (MEMA) Aftermarket Suppliers, an association in North America representing motor-vehicle component manufacturers, have announced that it will hold the first MEMA Aftermarket Startup Challenge during the Aftermarket Technology Conference to be held October 9–11, 2023, in Atlanta, according to a press release dated June 15. Three venture capital and mobility-startup accelerators — Aftermarket Ventures, Capstone Financial Group a...
    US-based Safelite Group acquires Advanced Auto Glass
    Safelite Group, a US-based vehicle-glass services and recalibration company and owner of Safelite AutoGlass, announced an agreement to acquire the auto glass assets of Advanced Auto Glass operating in Texas, according to a press release dated June 15. The combined businesses will work together to grow a successful business offering vehicle-glass repair, replacement and recalibration services to Fort Worth, Texas-area customers, the release added. Advanced Auto Glass will leverage Safelite’s...
    Taiwan’s Delta Electronics to acquire hybrid-component provider TB&C
    Delta Electronics, a Taiwanese provider of power and thermal-management solutions, has announced the signing of a definitive agreement to purchase HY&T Investments Holding BV and its subsidiaries, including TB&C Group, a provider of automotive high-voltage hybrid components, according to a press release dated June 15. The purchase was made through Delta’s subsidiary Delta International Holding Ltd. from Cooperatief H2 Equity Partners and Te Bokkel Beheer for €142 mi...
    BorgWarner to acquire Eldor Corp.'s Electric Hybrid Systems business
    BorgWarner has announced that it will acquire the Electric Hybrid Systems (EHS) business segment of Eldor Corp. for €75 million, according to a press release dated June 19. Headquartered in Italy, Eldor's EHS segment includes onboard chargers (OBCs), DC/DC converters and integrated high-voltage boxes, all of which are expected to complement BorgWarner's existing product portfolio, the release added. The transaction is expected to close in the third quarter of 2023.  The acquisitio...
    Japan’s Sojitz Corp. acquires EV distributor in Norway
    Sojitz Corp., a Japan-based company engaged in trading business, investment and financial activities, announced that it has acquired a 49% stake in a multibrand electric vehicle distributor, Pongo AS (Pongo), owned by Norway-based Gill Gruppen AS (Gill Group), according to a press release dated May 12. Through this investment, Sojitz will enter the specialized multidistributor business for EVs in Norway, which is the world’s leading market in EVs. In Norway, EVs accounted for over 90% ...
    US-based Safelite Group acquires New Angle Glass
    Safelite Group, a US-based vehicle-glass services and recalibration company and owner of Safelite AutoGlass, announced an agreement to acquire the auto glass assets of New Angle Glass operating in the Boston area, according to a press release dated May 24. The combined businesses will work together to grow a business that offers vehicle-glass repair, replacement and recalibration services to Massachusetts customers. New Angle Glass will leverage Safelite’s operational systems, advanced...
    BorgWarner says Phinia spinoff to be completed potentially by July 3
    Michigan-based global supplier of powertrain technologies, BorgWarner, has announced that it expects to complete the spinoff of Phinia at the end of the day July 3, 2023, according to a press release dated June 14. BorgWarner said Phinia common stock will be traded on the New York Stock Exchange under the ticker symbol PHIN and the first day of trading is expected to be Wednesday, July 5, 2023. Significance: In December 2022, BorgWarner announced its intent to spin off the Fuel Systems and...
    TBC Corp. to divest retail portfolio to Mavis Tire
    TBC Corp., a distributor of automotive replacement tires based in the US, and a joint venture between Japan’s Sumitomo Corp. and French tire manufacturer Michelin, announced that it has reached an agreement to divest its company-owned retail portfolio to Mavis Tire Express Service Corp., according to a press release dated May 24. As per the transaction, TBC will transfer 595 retail locations to Mavis and will also provide wholesale and tire distribution for Mavis, the release...
    Japan’s Marubeni acquires US-based Automotive Parts and Services Holdings
    Japanese trading company Marubeni Corp. announced that MAIHOIII LLC, a subsidiary of Marubeni, has acquired Automotive Parts and Services Holdings LLC (APSH), according to a press release dated May 9. APSH provides online distribution of automotive repair parts and mobile inspection (on-site inspection/verification of customer repair claims) to insurance companies offering vehicle service contracts in the US. Marubeni observed that since vehicle inspection regulations in the US...
    Japan’s Sojitz acquires Australia’s used car dealer Albert Automotive
    Sojitz Corp., a Japan-based company engaged in trading business, investment and financial activities, announced that it has acquired full ownership of Albert Automotive Holdings Pty. Ltd., a wholesale and retail used-car business that is part of the Dutton Group, according to a press release dated May 16. Sojitz has been dealing in certified pre-owned cars through its authorized dealers in Japan and other countries, and operates a designated pure-play used car dealer for premium brand ve...
    Veoneer completes sale of Active Safety business to Magna
    According to a press release dated June 1, Veoneer has announced the completion of the sale of its Active Safety business to Magna, a mobility-technology company and an automotive supplier. The transaction was first announced Dec. 20, 2022. "Today is a great day for all stakeholders of Veoneer's Active Safety business. The combination with Magna will create a leading global supplier for [advanced driver assistance systems, or ADAS] and secure a compelling long-term home for the Active Safety ...
    US-based parts recycler Fenix Parts acquires Fox Auto Parts
    Fenix Parts, a US-based recycler and reseller of automotive parts, announced that it has completed its acquisition of the assets of Fox Auto Parts in Belleville, Michigan, according to a press release dated 5 June. This is the largest acquisition by Fenix Parts since the it was acquired by affiliates of Stellex Capital Management, a private equity firm, in April 2018. Fox is a full-service and self-service automotive recycler and auto repair facility servicing the Detroit, Ann Arbor, and Nort...
    US-based aftermarket supplier BBB Industries acquires Poland’s Inter-Turbo
    US-based automotive aftermarket supplier and remanufacturer BBB Industries has announced that it has acquired Inter-Turbo, a Polish manufacturer of turbochargers and other components, through its wholly owned subsidiary Budweg Caliper A/S, according to a press release dated May 31. Inter-Turbo is based in Katowice, Poland and manufactures turbochargers, injectors and diesel particulate filters (DPFs). Founded in 2009 by Blazej Michalik and Marek Jasiok, Inter-Turbo services more than 16,000 m...
    Cummins to acquire parts of Faurecia’s commercial vehicle exhaust business
    Cummins Inc. announced that it has entered into a definitive agreement with Faurecia, a company of the Forvia Group, to purchase two of Faurecia’s commercial vehicle manufacturing plants and their related activities for €142 million, according to a press release dated May 23. The manufacturing facilities are located in Columbus, Ind., and Roermond, the Netherlands. Faurecia has been a partner and supplier to Cummins for more than a decade, and the Forvia Group’s divestment ini...
    Australian aftermarket distributor Bapcor acquires E-Max
    Australian automotive distribution company and provider of vehicle parts, accessories, equipment, service and solutions, Bapcor, announced the acquisition of E-Max Australia, according to a press release dated May 18. With the move, E-Max will become an integral part of Bapcor's Commercial Vehicle Group, forming part of the existing wholesale business, Australian Truck Parts (ATP). The E-Max brand specializes in electrical loom and accessories products, providing innovative solutions for...
    China’s SunCar merges with Goldenbridge Acquisition
    SunCar Technology Group Inc. (SunCar), a provider of digitalized enterprise automotive after-sales services and online auto insurance intermediation service in China, has announced the completion of what it calls “business combination” with Goldenbridge Acquisition Ltd. (Goldenbridge), a special-purpose acquisition company, according to a press release dated May 17. SunCar said it is transforming the customer journey for car insurance and aftermarket services in China. It d...
    Webasto opens second roof-production facility in India
    India is among the fastest growing markets for vehicles fitted with panoramic roofs. Due to consistently rising demand, Webasto Group (Webasto), a global market leader for openable roof systems, is expanding its activities in India by adding a further production facility. “The Indian roof system market is experiencing a period of extremely rapid growth and openable panoramic roofs are in particularly high demand. We have therefore now established another highly innovative production fa...
    Japan’s JTEKT Corporation merges its JTEKT Sales and Koyo Kowa companies
    JTEKT Corp. has announced that it will merge its two aftermarket sales companies, JTEKT Sales Co., Ltd. and Koyo Kowa Co., Ltd., in Japan on July 1, 2023, according to a press release dated April 13. Post the move, the merged company will be known as JTEKT Sales, the release added. JTEKT said the purpose of the merger was to build a sales system that faces customers as “one JTEKT” which unites the group, and the move is aimed at strengthening its aftermarket business. Si...
    France’s Siligom acquires Glass Auto Service
    Siligom, a France-based tire distributor and service provider, and Parts Holding Europe (PHE), a distributor of vehicle spares in France, Belgium, the Netherlands, Luxemburg, Italy and Spain, have announced that Siligon’s acquisition of PHE-owned Glass Auto Service has received approval from the supervisory authorities, according to a press release dated April 14. This acquisition enables Siligom, which is already present in the glazing market with more than 90 outlets under the Siliglass b...
    LKQ Fource acquires Netherlands parts wholesaler Leo de Groot Partscenter XL
    LKQ Fource announced the expansion of its wholesaler network in the Netherlands with the acquisition of parts wholesaler Leo de Groot Partscenter XL, according to a press release dated April 13. LKQ Fource said after years of joint cooperation, this was the next logical step in its success story. With this takeover, LKQ Fource’s number of own wholesaler outlets in the Netherlands stands at 85. Leo de Groot Partscenter XL offers a wide range of tools and car materials as well as advanced ser...
    Swedish spring maker Lesjöfors acquires US-based Tollman Spring
    European automotive springs manufacturer Lesjöfors Group announced that it has signed an agreement to acquire shares in Tollman Spring Company Inc., a US spring manufacturer, according to a press release dated April 4. Through the transaction, Lesjöfors said it further strengthens its US presence following the acquisitions of John Evans’ Sons and Plymouth. Tollman, founded in 1945, is a manufacturer of industrial springs with a well-established market position. Its diversified c...
    Tint World continues growth in Texas
    US-based auto accessory and window tinting franchise, Tint World Automotive Styling Centers, announced the opening of its new location in Benbrook, Texas via a press release dated March 23.  Tint World Benbrook, owned by Mike Richards, offers drivers throughout the Fort Worth, Texas, area premium automotive aftermarket performance and style accessories and services, including the industry's most reliable window-tinting solutions. Significance: Tint World&...
    Tooling products company Techniks to acquire Eppinger Group
    Manufacturers and suppliers of aftermarket and OEM tooling products in North America, Techniks Tool Group (TTG), announced that it has entered into a definitive agreement to acquire Eppinger Group, via a press release dated March 27.  Eppinger Group is a Germany-based leading designer and manufacturer of sophisticated, high precision static and live tools, complete computerized numerical control (CNC) tooling systems, rotary tables for CNC machines, and gears and gearboxes for robot...
    US-based car wash operator El Car Wash expands its operations
    US-based car wash operator, El Car Wash, has completed the acquisition of Smart Car Wash and its North Miami Beach, Fla., and West Palm Beach, Fla., locations, according to a press release dated April 4 by PRNewswire. Following the re-opening of these two sites, El Car Wash will operate 30 locations with an additional 30 plus sites in development across Florida and plans to significantly expand its footprint through both greenfield openings and acquisitions of existing car wash...
    Automotive retailer, Group 1 Automotive acquires Chevrolet dealership in Florida
    Group 1 Automotive, Inc., an automotive retailer with 205 dealerships located in the US and UK, announced the expansion of its US operations with the acquisition of Estero Bay Chevrolet in Estero, Fla., according to a press release dated March 28.  The dealership is located near the fast growing city of Fort Myers in Southwest Florida. Estero Bay Chevrolet is the fifth ranked Chevrolet dealership in new vehicle volume in the state of Florida. Si...
    Penske Truck Leasing to acquire Kris-Way Truck Leasing
    Penske Truck Leasing, a joint venture of Penske Corporation, Penske Automotive Group, and Mitsui & Company, announced that it has reached an agreement to acquire Kris-Way Truck Leasing, Inc., a press release dated March 30 read. Kris-Way is a transportation services company offering full-service leasing, commercial truck rental, contract maintenance and dedicated contract carriage. Penske Truck Leasing is a Penske Transportation Solutions company headquartered in Reading, P...
    Finland-based vehicle aftermarket firm Relais acquires spares distributor Adita
    Relais Group PLC, a spare parts distributor and provider of repair and maintenance in the Nordic vehicle aftermarket, announced that it has signed an agreement regarding the acquisition of the Finnish company Adita Oy, according to a press release dated March 29. The sellers are Adita's founder and main shareholder, and the company's sales director. According to the release, Adita is a highly regarded local distributor of spare parts and equipment for cars and marine use in the Helsinki ...
    UK online used car retailer Cazoo sells its German subscription business
    Cazoo Group Ltd., a UK-based online car retailer, announced that it has agreed to sell its German subscription business, Cluno GmbH, to ViveLaCar GmbH and The Platform Group GmbH & Co. KG, according to a press release dated February 17. The financial terms of the transaction were not disclosed, and the total portfolio included several thousand cars in the German market. Significance: The disposal concluded Cazoo’s withdrawal from the German market as part of its strategy to...
    Alliance Automotive Group UK announces two new acquisitions
    The UK and Ireland arm of Alliance Automotive Group (AAG), a European automotive aftermarket distributor, announced that it has recently completed the acquisition of Direct Auto Parts Ltd. (DAP) and Car Parts Warehouse Ltd. (CPW), according to a press release dated March 6. DAP is a single branch business based in Barking in East London, England, with sales of £2.6 million and 13 employees. It is an existing member of the Parts Distribution Partnership (PDP) aftermarket buying...
    UK online used car retailer Cazoo sells Cazana data platform
    Cazoo Group Ltd., a UK-based online car retailer, announced that it has sold its third party data platform, Cazana, for an undisclosed sum, according to a press release dated February 22. The disposal aligns with Cazoo’s strategy to focus on its core business as the leading online car buying and selling platform in the UK, as opposed to providing data services to third parties, the company said. Significance: “The agreement includes the sale of the Cazana brand, platform and comme...
    Alliance Automotive Group Benelux acquires Dutch cleaning-products firm Allcos
    Alliance Automotive Group Benelux (AAGB) has announced the acquisition of Allcos BV, a company specializing in the sale of cleaning products for the car industry, according to a press release dated March 20. Allcos BV supplies and imports professional maintenance and cleaning products for the Dutch automotive market under the brands Kenotek, ZviZZer and Concept Chemicals. Significance: Allcos is the total supplier for car washes, rollovers, chain car washes, truck wash compa...
    US-based aftermarket company Transtar acquires C&M Auto Parts
    US-based Blue Point Capital Partners and its portfolio company, Transtar Holding Company, announced the acquisition of C&M Auto Parts, a family-owned wholesale supplier of truck and automotive parts with a focus on undercar and underhood products, according to a press release dated March 16. Based in Trenton, New Jersey, US, C&M services independent, regional and national repair shops, dealerships, government agencies and fleets throughout central New Jersey. C&M founder Glen...
    US-based Milton Industries acquires Steck Manufacturing
    Milton Industries, a US-based manufacturer of precision-engineered pneumatic and hydraulic accessories, announced that it has acquired Steck Manufacturing Company, a developer and manufacturer of specialty tools for the automotive aftermarket, according to a press release dated March 16. Steck is a provider of specialty tools to automotive repair, body shop, heavy-duty truck, lockout and towing markets globally. This is Milton’s fifth vehicle aftermarket-related acquisition. Among the ...
    Automotive retailer Lithia & Driveway acquires UK-based Jardine Motors
    Lithia & Driveway, an automotive retailer in North America that also provides a suite of financing, leasing, repair, and maintenance options, announced the company's expansion into the United Kingdom with the acquisition of Jardine Motors Group, according to a press release dated 16 March. The group is one of the most successful automotive retailers in the UK, operating more than 50 premium luxury-retail locations and is expected to generate over USD2 billion in annualized revenues, the...
    Vehicle-glass services and recalibration company, Safelite Group acquires Mark’s Mobile Glass
    US-based vehicle-glass services and recalibration company, Safelite Group, announced the acquisition of Mark’s Mobile Glass operating throughout central Missouri, US, a press release dated 7 March read. Renee Cacchillo, president and CEO of Safelite Group, said, “We enjoy welcoming new team members to our business and leveraging their talents in providing the quality glass repair, replacement, and recalibration services our customers expect from Safelite. We’re confident that ...
    American auto parts distributor Arch Auto Parts doubles its distribution center footprint
    US-based auto parts distributor, Arch Auto Parts, announced the expansion of its main distribution center located at its Ideal Queens Industrial Building, at 184-10 and 184-60 Jamaica Avenue in Jamaica, Queens, New York, according to a press release dated 13 March. Ideal Queens, purchased by KABR and Monocle in February 2022, consists of more than 620,000 rentable square footage, which is located with access to Manhattan, Long Island City, Long Island, JFK International Airport, LaGuardi...
    NEXEN TIRE invests in video-analytics platform Automotus
    South Korean tire manufacturer NEXEN TIRE announced that Next Century Ventures (NCV), its corporate venture capital arm, has invested in Automotus, a player in the curbside-management technology industry, to meet NCV's goals to revolutionize the mobility industry, according to a press release dated 9 March. Automotus, founded in the US in 2017, collaborates with government, institutions, and mobility innovators across the country to test and evaluate curbside-management techniques to min...
    Indian government asks automotive component industry to increase investment on R&D
    The Indian government has urged the automotive components sector to invest more on research and development (R&D), in a press release dated 6 March. Union minister of Commerce and Industry, Piyush Goyal, has asked the automotive components industry to reflect on the level of investments, time, and effort that they have been putting in to develop new technology, new designs, and new products. “It would also help us provide solutions to other countries instead of being dependent on t...
    Japan’s Marubeni invests in North American battery recycling firm Cirba Solutions
    Japanese trading company Marubeni Corporation has announced that it successfully completed a USD50 million investment into Cirba Solutions, a cross-chemistry battery management and materials processor for end-of-life (EOL) batteries, according to a press release dated 9 February. Cirba Solutions is a pioneer in the North American battery recycling industry and has built a profitable business by processing EOL lithium ion (Li-ion) batteries and cross-chemistry batteries for over...
    bp to invest USD1 billion by 2030 into EV charge points across the US
    bp has announced plans to invest USD1 billion by 2030 into electric vehicle (EV) charge points across the US, according to a company press release dated 15 February. Hertz and bp are also set to bring fast charging infrastructure to Hertz locations in cities including Atlanta, Austin, Boston, Chicago, Denver, Houston, Miami, New York City, Orlando, Phoenix, San Francisco, and Washington, DC. “We are excited to be working with bp to build out charging at Hertz locations across the country, a...
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