KARLSRUHE, Germany and CANTON, Mich. – Following approval by the antitrust authorities, Bosch has completed its acquisition of the Service Solutions business of SPX Corp. The agreement to purchase the U.S. automotive diagnostics specialist was signed in January this year. Bosch’s sale of RTI Technologies to MAHLE, announced earlier this week, cleared the way for the acquisition of SPX’s Service Solutions business to be finalized, as part of a settlement with the Federal Trade Commission.
The Service Solutions business develops, manufactures and sells service equipment, repair-shop accessories and software for the global automotive market. Based in Canton, Mich. (USA), the Service Solutions business generated sales of approximately $920 million in 2011. The company employs some 2,800 associates in 17 countries, and has manufacturing sites in the U.S., Germany, France and China. The purchase price is approximately $1.15 billion dollars.
"In acquiring the Service Solutions business, we will become a comprehensive supplier of solutions in the diagnostics and repair business. In expanding our portfolio and extending our global presence, especially in the U.S., we are strengthening our position," said Robert Hanser, president of the Bosch Automotive Aftermarket division. "We will quickly merge our know-how and wealth of experience in this growing market. Our aim is to become the world’s leading supplier of diagnostics solutions for all makes of vehicles."
The business activities of the Service Solutions unit will be integrated into the Bosch Automotive Aftermarket division. As part of the integration, a new "Automotive Service Solutions" business unit will be set up. The former diagnostics business unit also will become part of this new business unit. Tanvir Arfi, who was president of the Service Solutions business for many years, will be in charge of Automotive Service Solutions and its 4,200 associates. The unit’s world headquarters will be in Canton, Mich. The European operations of Automotive Service Solutions will be managed from the Plochingen location in Germany.
