MANN+HUMMEL to acquire shares in Purolator filters joint venture from Bosch
- Plan to strengthen Purolator brand and broaden customer base.
- Purolator sales of roughly 240 million US dollars in 2012 increase US footprint.
- Acquisition supports corporate strategy of MANN+HUMMEL.
Ludwigsburg (Germany) / Fayetteville, NC (USA) – 3rd December 2012 – MANN+HUMMEL plans to acquire Bosch’s 50 percent stake in the joint venture Purolator Filters NA LLC. An agreement to this effect was signed on December 03, 2012. Purolator develops, manufactures and sells filters for the automotive OE/OES and aftermarket. In 2012, the business, which is based in Fayetteville, NC (USA), generated sales of 240 million US dollars (roughly 185 million euros). It employs some 1,000 associates. The transaction is subject to approval by the antitrust authorities. The terms of the deal have not been disclosed.
MANN+HUMMEL is incorporated in Germany, with regional US-headquarters in Portage, Michigan. The German filtration expert and Bosch founded the joint venture in 2006 after buying the company from Arvin Meritor. In the last 6 years, MANN+HUMMEL and Bosch strengthened Purolator as a major filter supplier in the US in a very constructive partnership. With the acquisition of all the shares MANN+HUMMEL strengthens its OE and aftermarket business in NAFTA as well as its global filter business.
Alfred Weber, President and CEO of MANN+HUMMEL, said: “For our customers Purolator will continue to be a partner with the scale and scope to design, build and distribute leading edge filtration products and services. Our company will have one of the most experienced sales and services teams in the filtration industry. In fact, this acquisition will ideally benefit customers, employees and support
our company’s strategy to become a global leader in filtration.”
Rob Malone, CEO of Purolator, added: “We are committed to strengthen the Purolator brand and to broaden our customer base. This deal gives Purolator unlimited access to MANN+HUMMEL’s know-how and thus benefits our customers. Purolator represents a strategic fit of portfolio, positioning and people.”
With a comprehensive and diversified portfolio of complementary products, MANN+HUMMEL and Purolator are well-positioned to address the automotive filtration sector with their strong and well-established Purolator and MANN-FILTER brands.
With five locations in NAFTA, MANN+HUMMEL employs almost 2,000 people in the region and has built solid relationships with customers ranging from vehicle and industrial equipment manufacturers to the aftermarket, distributors and retailers. With its system competence, high market coverage and strong brands, the MANN+HUMMEL filter business has grown substantially over the last years and will be further strengthened by the integration of Purolator.
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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 14,338 people at more than 50 locations worldwide, the company achieved turnover of about 2.5 billion Euros in 2011.The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and cylinder head covers made of plastic with many integrated functions for the automotive industry, 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.