LUDWIGSBURG, Germany & FAYETTEVILLE, N.C. MANN+HUMMEL has announced it will acquire Bosch’s 50 percent stake in the joint venture Purolator Filters NA LLC. An agreement to this effect was signed on Dec. 3.
Purolator develops, manufactures and sells filters for the automotive OE/OES and aftermarket. In 2012, the business, based in Fayetteville, N.C., generated sales of $240 million. It employs some 1,000 associates. The transaction is subject to approval by the antitrust authorities. Terms of the deal have not been disclosed.
MANN+HUMMEL and Bosch founded the joint venture in 2006 after buying the company from Arvin Meritor. In the past six years, MANN+HUMMEL and Bosch strengthened Purolator as a major filter supplier in the U.S. With the acquisition of all the shares of the business, MANN+HUMMEL said it will strengthen 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.”