The deal excludes the Affinia South America (ASA) operations which manufacture and distribute replacement products for on-road and off-road vehicles, principally in Brazil.
Affinia’s filtration business manufactures and distributes aftermarket oil, air, fuel, hydraulic and other filters for light, medium and heavy duty on and off-highway vehicle, industrial and marine applications. The business, which is headquarterd in Gastonia, North Carolina, USA, will add approximately US$1 billion to Mann+Hummel’s revenue.
Germany’s Mann+Hummel offers filtration solutions to original equipment and aftermarket customers in both the automotive and industrial sectors. The acquisition of Affinia’s filtration business will allow Mann+Hummel to enter the heavy duty market in the US, and provide significant growth opportunities in the hydraulic filter aftermarket.
Alfred Weber, president and CEO of Mann+Hummel, said he firmly believes “that this is the right deal, with the right logic, at the right time.”
“This acquisition fits perfectly with our corporate strategy. It will enable us to grow globally and provide ample opportunity for growth and development for all of our people. Mann+Hummel and Affinia’s filtration business will serve customers better through a seamless, comprehensive portfolio ranging from passenger to heavy duty and industrial to hydraulic filtration solutions thanks to a combined 150 years of filtration expertise,” said Weber.
“We believe that this partnership with Mann+Hummel will accelerate our growth potential, provide access to new technologies and capabilities, and enhance our financial strength and global scale to excel in the global marketplace,” said Keith Wilson, president and CEO of Affinia Group.
The two businesses will continue to operate separately for the foreseeable future.
Affinia Group was advised by Robert W Baird & Co.