Torque Capital announced that its investor group has completed the purchase of the North American and European light vehicle aftermarket business of Remy Inc. from BorgWarner Inc. The business includes the North American light vehicle rotating electrical remanufacturing business, the North American power steering business (Maval Industries), and the European light- and medium-duty rotating electrical remanufacturing business.

Torque Capital also announced that the new Remy board of directors has elected David Nichols to the role of president of the North American company. Nichols previously served as the company’s general manager and senior vice president of sales.

Joseph Parzick, Torque Capital managing partner and chairman of the Remy board of directors commented, “We are delighted to have Dave Nichols serve as president as we begin this new chapter in Remy’s history. Dave is well respected both inside the company and among our customers and is known as a seasoned, results-oriented, committed leader. His elevation to president is an affirmation of the role he was already performing as general manager of the aftermarket business since the acquisition of Remy by Borg Warner in November 2015.”

Editor’s note: Torque Capital also owns Brake Parts Inc.

To learn more about Remy and its product offerings, visit booth No. 4661 this week at AAPEX 2016.