Remy International will acquire Maval Manufacturing, a Twinsburg, Ohio manufacturer, remanufacturer, and distributor of steering systems, components, and specialty products to the automotive service, original equipment power sports, and off-road specialty vehicle markets.
The parties expect to close the transaction in the first quarter of 2015.
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“We are continuing to expand our portfolio beyond our core rotating electrics products into high quality multilines with growth potential,” said Remy president and chief executive officer, Jay Pittas.
“Maval is a perfect fit for us: a well-managed, resourceful, profitable company with quality products that can stand on its own. We can help them grow and increase their distribution.”
Maval Manufacturing was the first independent remanufacturer to achieve a QS9000 ranking for steering products and is a global leader in off-road and classic car steering systems, according to Remy. Their quality, management talent, and position in their markets made the company attractive to Remy, according to Pittas.
Maval will retain its brand identities for its core products as well as its Unisteer and Wicked Bilt lines.
