MANN+HUMMEL Agrees to Acquire Affinia Group
Approximately USD 1 billion added to MANN+HUMMEL’s top line
Companies employ 20,000 worldwide
Global presence with complementary customer relationships and competencies
Combined 150 years of filtration know-how
LUDWIGSBURG, GERMANY--(Business Wire / Korea Newswire) August 18, 2015 -- The MANN+HUMMEL Group, www.mann-hummel.com, based in Ludwigsburg, Germany, today announced that they have entered into a definitive agreement under which MANN+HUMMEL will acquire the global filtration operations (excluding its Affinia South America (“ASA”) operations) of Affinia Group, the manufacturer of the Wix and Filtron brand of filters. The transaction is subject to customary regulatory approvals. The two businesses will continue to operate separately for the foreseeable future. Terms of the deal have not been disclosed.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150817005552/en/
Affinia’s filtration business specializes in aftermarket oil, fuel, air, hydraulic, and coolant filters. MANN+HUMMEL is a privately-held global filtration expert offering filtration solutions to original equipment and aftermarket customers in both the automotive and industrial sectors.
Complementary customer relationships and competencies
MANN+HUMMEL and Affinia’s filtration business have highly complementary competencies and customer relationships. The two companies will bring together the best of on- and off-road and industrial filtration solutions. The acquisition will give MANN+HUMMEL access to market segments such as US heavy duty and hydraulic filtration.
Alfred Weber, President and Chief Executive Officer of MANN+HUMMEL, said:
“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.
Upon closing, we look forward to working with the current management and people of Affinia, who have done a tremendous job over the past years.
For all these reasons, I firmly believe that this is the right deal, with the right logic, at the right time.”
The acquisition will enable access to larger global markets with improved growth possibilities, and will allow the company to better serve its customer base with a broader product portfolio. Affinia’s filtration business allows MANN+HUMMEL to enter the heavy duty segment in the US, with a full range of filtration products and distribution focused on this segment, as well as providing significant growth opportunities in the hydraulic filter aftermarket. This opportunity will create additional value for MANN+HUMMEL, its employees, and its customers.
Communities and ecosystems
MANN+HUMMEL is a global company, with deep roots and heritage in many parts of the world. As a family-owned business, MANN+HUMMEL is people-oriented and believes in making a positive impact in the ecosystems in which it operates. With the acquisition of Affinia’s filtration business, MANN+HUMMEL looks forward to welcoming new associates and communities into their global family. With the addition of the unique features brought by Affinia’s filtration business, MANN+HUMMEL intends to continue being an important contributor to the overall development of the filtration industry.
The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. Employing 16,000 people at more than 60 locations worldwide, the company achieved turnover of about 2.8 billion euros in 2014. The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and technical plastic parts, as well as filter elements for vehicle servicing and repair. For general engineering, process engineering and industrial manufacturing sectors the company’s product range includes industrial filters, a series of products to reduce carbon emission levels in diesel engines, membrane filters for water filtration and filter systems. Further information about MANN+HUMMEL can be found under www.mann-hummel.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20150817005552/en/
+49 (0) 7141 98 - 2583
+49 (0) 7141 98 – 3354
This is a news release distributed by Korea Newswire on behalf of this company. Learn more