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Stant Announces the Purchase of Expert Corp.’s Assets


5/21/2010

 
Connersville, Ind. — Stant Corp., a leading manufacturer of engineered vapor and fluid control components, has acquired substantially all the assets of Expert Corp. Based in Romeoville, Ill., Expert is a leading designer and manufacturer of evaporative emission canisters and front end carriers for the automotive industry. Expert’s customers include many of the leading automotive manufacturers and Tier 1 suppliers in the U.S. 
 
“This is a strategic acquisition providing a great fit to Stant’s current product development and manufacturing capabilities,” said Marlon Bailey, Stant President and CEO. “This transaction is highly strategic, completes Stant’s capabilities in vapor management products, and makes Stant a global leader in gas caps, valves, and now canisters, as well as in the cooling product category. We are excited about the existing and the future opportunities we have as a combined entity.”
 
“Expert has an impressive history of developing and manufacturing innovative canisters, and will help Stant provide a broad offering of customized vapor management solutions to meet our customers’ demanding needs,” said Bailey. “Expert’s engineering, sales and manufacturing professionals have done a nice job winning marquis business.  We are excited to bring Expert into the Stant family and collectively build upon their deep technical and innovative vapor management delivery solutions. This also positions Stant well to capitalize on the tightening emissions standards in the automotive, industrial and small engine markets.”
 
Thomas LaMagna, Expert’s Chief Executive Officer, will join Stant and lead the canister and front end carrier segment. “Stant’s broad R&D expertise will provide an excellent platform to build upon Expert’s recent success in delivering innovative new products and solutions to our set of blue chip customers," said LaMagna.
 
Roman Krislav of H.I.G. Capital, a leading private equity firm and majority investor in Stant Corp., stated, "We have the utmost confidence in the Stant management team who has shown an ability to both grow the business and execute well. We believe this investment will further cement Stant's leadership position in the vapor management sector.”












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