Oetiker Group, an international manufacturer of connecting solutions based in Switzerland, has acquired all shares of Jiffy-tite Group, effective March 1. Oetiker says the acquisition allows it to gain a stronger foothold in the quick connect market and further strengthens its position as one of the leading suppliers of connecting technology to the automotive industry.
Jiffy-tite is a manufacturer of highly engineered fluid connection parts and assemblies primarily used in the automotive industry. The company pioneered quick connectors for fluid transfer applications that include transmission oil cooling, engine oil cooling and engine glycol cooling. Using this core technology, the company has subsequently developed connections for other applications such as thermal management systems, turbocharger systems, electric vehicle high-current systems and all-wheel drive systems.
Today, Jiffy-tite’s products are used on more than 23 automobile brands all over the world. The company is headquartered in Lancaster, New York, and has a second production facility in Batavia, New York, as well as sales offices in Novi, Michigan, and Frankfurt. The company generates revenues of approximately $90 million with a workforce of approximately 300 employees.
Jiffy-tite was founded by Robert and Shirley Zillig in 1963. The company shifted focus to the automotive industry in 1986 after the Zillig’s son, Steve Zillig, bought the business from his parents.
“Our success in North America has earned us a reputation which has opened doors for us overseas. As our business continues to expand, we must adapt to customers who do not live within driving distance of us. Being now part of the global Oetiker Group, I see many growth opportunities for our products, especially in Europe and Asia,” said Steve Zillig, former owner and CEO of Jiffy-tite Group. “Furthermore, as family owned companies, both Jiffy-tite and Oetiker share a tradition of entrepreneurship and many common values and attributes, which makes Oetiker even more of an ideal partner for Jiffy-tite.”
“The acquisition of Jiffy-tite aligns perfectly with our long-term strategy to be a global leader for high-end connecting solutions in the vehicle industry,” said Thomas Meier-Bickel, CEO of Oetiker Group. “Jiffy-tite’s highly engineered, application focused products, especially its quick connects, are an optimal complement to our clamping portfolio, resulting in a broader offering of connecting solutions for a wider range of applications to our automotive customers.”
Paramax Securities LLC (a subsidiary of Paramax Corp.) acted as exclusive adviser to the Jiffy-tite Group and ZETRA International to the Oetiker Group in this transaction.
