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slashesNGK Spark Plug Co., LTD has announced that the company is going to acquire Wells vehicle electronics business from UCI Holdings Limited

slashesPress release from 06/01/2015

Ratingen, 01.06.2015 – NGK SPARK PLUG CO., LTD., the parent of NGK Spark Plug Europe GmbH, has decided to acquire all shares of UCI Acquisition Holdings (No.2) Corp (hereafter “UCI Acquisition”) from UCI Holdings Limited. UCI Acquisition owns Wells Manufacturing L.P. (hereafter “Wells”), a leading supplier to the U.S. market, which offers components such as switches, ignition coils and pressure sensors mainly to the automotive aftermarket.

 

NGK Spark Plug is the global market leader in spark plugs and exhaust oxygen sensors used in the automotive industry and other markets and strives to keep this position. In order to further strengthen the Group’s core business with automotive components, NGK/NTK pursued various opportunities, including the expansion of the product line-up and the increase of penetration in various distribution channels.

Wells is an ideal candidate for expansion: The Wisconsin-based company is a well-known automotive parts manufacturer with more than 100 years of history in the United States. Wells has exposure to the growing segment of vehicle electronics with broad product lines, its main products including switches, ignition coils and pressure sensors. The company has built a leading position in the US automotive repair market and is working to increase its sales outside of the US.

Both parties’ goals are well aligned. NGK Spark Plug believes that the combination of the two will create significant synergies, including offering Wells products, in addition to NGK/NTK products, to the global repair market through the group’s sales network. The acquisition will further strengthen NGK’s automotive components business and will keep challenging the Company to create new businesses. The deal was signed on May 8, 2015 with a transaction volume of 257.5 million US$. The expected closing date is July 1, 2015.

About Wells Manufacturing, L.P.: Wells is a leading supplier of vehicle electronics components in the automotive, marine, off-highway, industrial and heavy-duty industries. The Wisconsin-based company offers more than 38,000 parts, including distributor caps and rotors, ignition coils, control modules, sensors, wire and cable sets, emissions components, switches, fuel system components and voltage regulators. Turnover in the fiscal year ended December 2014 amounted to 222 million US$.
About NGK: NGK is the world’s leading manufacturer of spark plugs, glow plugs and lambda sensors. The Company runs production plants and sales organisations all over the world. With a total of 13,000 employees, the Company generates an annual turnover of around 2.7 billion euros. NGK is represented on all continents and has 43 group companies, 24 production plants and 5 technical centres.

 

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For further information contact:

Marcel Aßmann

Specialist PR & Event

Aftermarket EMEA

NGK SPARK PLUG Europe GmbH Harkortstr. 41

40880 Ratingen

Germany

AG Duesseldorf HRB 43118

Tel: +49 (0)21 02 974 152

E-mail: m_b/bassmann@xs3s2ngnqkntkhsx.de

 

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