Affinia Group, an innovative global leader in the design, manufacture, distribution and marketing of industrial grade products and services, has entered into a definitive merger agreement through which Affinia Group, including its global filtration operations (but excluding its Affinia South America (ASA) operations), will be sold to MANN+HUMMEL. Terms of the deal were not disclosed.
Based in Ludwigsburg, Germany, MANN+HUMMEL is a privately held global filtration expert offering filtration solutions to OE and aftermarket customers in both the automotive and industrial sectors.
“Our agreement with MANN+HUMMEL continues us along a path that has guided us for 75 years – a commitment to innovative solutions and high-quality filtration products,” said Keith Wilson, president and CEO of Affinia Group. “We are excited to align our technologies and capabilities to provide our customers, employees and partners with unparalleled excellence and opportunity.
“We believe that this partnership with MANN+HUMMEL will accelerate our growth potential, provide access to new technologies and capabilities, and enhance our financial strength and global scale to excel in the global marketplace,” Wilson added. “We couldn’t be more thrilled about the potential this brings to our global brands, and most importantly, our dedicated people that have helped build our legacy of leadership and innovation.”
Affinia’s filtration business allows MANN+HUMMEL to enter the heavy-duty segment in the U.S., with a full range of filtration products and distribution focused on this segment, as well as providing significant growth opportunities in the hydraulic filter aftermarket. This opportunity will create additional value for MANN+HUMMEL, its employees, and its customers, the company noted.
Alfred Weber, president and CEO of MANN+HUMMEL, commented, “This acquisition fits perfectly with our corporate strategy. It will enable us to grow globally and provide ample opportunity for growth and development for all of our people. MANN+HUMMEL and Affinia’s filtration business will serve customers better through a seamless, comprehensive portfolio ranging from passenger to heavy duty and industrial to hydraulic filtration solutions thanks to a combined 150 years of filtration expertise. Upon closing, we look forward to working with the current management and people of Affinia, who have done a tremendous job over the past years. For all these reasons, I firmly believe that this is the right deal, with the right logic, at the right time.”
The acquisition is subject to regulatory approval and other customary closing conditions.
