Tag Archives: Acquisitions

Diplomat Buys Health Information Provider

FLINT — Diplomat Pharmacy Inc. (NYSE: DPLO) announced it had completed its acquisition of WRB Communications Inc., a health care service center company based in Chantilly, Va.

WRB specializes in relationship management programs for pharmaceutical manufacturers and health care service organizations.

Under the terms of the agreement, Diplomat is paying WRB $24.5 million cash and $4.5 million of Diplomat common stock. Under the terms of a two-year contingent earnout, WRB can earn an additional payout of up to $1 million based upon achievement of earnings-based targets in the 12-month periods ending May 31, 2018, and May 31, 2019. In 2016, WRB generated $15 million in revenue and $2.2 million in adjusted earnings before interest, taxes, depreciation and amortization.

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Gentherm To Buy Cincinnati Company

NORTHVILLE — The Northville-based thermal management technology developer Gentherm Inc. (Nasdaq: THRM) said this week that it will purchase Cincinnati, Ohio-based Cincinnati Sub-Zero Products.

CSZ manufactures patient temperature systems for the health care industry and environmental test chambers used by a wide range of manufacturing companies for product testing. CSZ also provides related environmental testing services to these markets. It posted 2015 sales of $63 million and has more than 300 employees.

Terms of the transaction were not immediately disclosed.

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US Farathane Acquires Tepso Plastics

AUBURN HILLS — US Farathane Corp. Wednesday announced it has acquired Tepso Plastics Mex, a manufacturer of engineered plastic injection molded components and assemblies for the automotive sector with two production facilities in Mexico.

Terms of the acquisition were not disclosed.

US Farathane officials said Tepso’s production facilities in Monterrey and Romita, combined with its management team, asset base and manufacturing expertise, give US Farathane an opportunity to gain direct access into the growing Mexican auto sector.

“Tepso is the perfect fit for our expansion into Mexico, and we are excited to complete this acquisition as a key part of our strategy to provide global solutions to our customers,” said Andy Greenlee, US Farathane CEO. “In addition to two first class facilities, we are gaining access to an outstanding group of highly skilled and dedicated employees that have driven world class results. With locations in northern and central Mexico, we are well aligned to serve our existing and future customers. We are bullish on Mexico and feel we are ideally positioned for the future.”

US Farathane now has 13 manufacturing plants in the United States and Mexico. Based in Auburn Hills, US Farathane offers the auto industry plastic interior and exterior components. Customers include Fiat Chrysler Automobiles, Ford, General Motors, Honda, Toyota, and others. More at http://www.usfarathane.com.

US Farathane is a portfolio company of the Gores Group, a global investment firm based in Los Angeles, Calif. More at http://www.gores.com.

BorgWarner Completes Acquisition Of Remy International

AUBURN HILLS — The Auburn Hills-based powertrain supplier BorgWarner Inc. said Wednesday it had finalized its acquisition of Remy International Inc., a manufacturer of rotating electrical components such as alternators, starter motors and electric traction motors for the automotive and commercial vehicle industry.

Pendleton, Ind.-based Remy, formerly known as Delco Remy, operates in 10 countries on five continents.

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TriMas Buys Arizona Aerospace Plant

BLOOMFIELD HILLS — The diversified manufacturer TriMas Corp. (Nasdaq: TRS) announced it had acquired the assets and personnel of Parker Hannifin Corp.’s plant in Tolleson, Ariz., which manufactures complex machined parts for the aerospace industry.

The transaction closed Nov. 2, at which time the facility became part of the TriMas Aerospace group.

Terms of the transaction were not disclosed.

In connection with the transaction, Martinic Engineering,a division of TriMas Aerospace, and the Tolleson plant will continue to provide machining and assembly of products, and prototyping, for the Fluid Systems Division of Parker Hannifin under a long-term agreement.

The transaction is expected to add $12 million to $15 million a year in revenue to TriMas’ top line.

Said Tom Aepelbacher, president of TriMas Aerospace: “This acquisition demonstrates our ongoing commitment to grow our aerospace business and significantly complements Martinic Engineering. The combination will enhance our relationship with existing customers, provide capacity for growth and expand our manufacturing capabilities and product offerings.”

Added Guy Martin, group vice president of operations for the airframe and actuation business of Parker Aerospace: “This is a natural combination and a win-win for both organizations. We look forward to building upon this partnership in the future.”

TriMas is organized into four segments: Packaging, Aerospace, Energy and Engineered Components. TriMas has approximately 4,000 employees at more than 50 locations in 16 countries. For more information, visit http://www.trimascorp.com.

The TriMas Aerospace segment of TriMas Corp. is organized into four businesses: Monogram Aerospace Fasteners, Allfast Fastening Systems, Mac Fasteners and Martinic Engineering. TriMas Aerospace designs, develops and manufactures precision engineered components including blind bolts, fasteners, solid and blind rivets, and hydraulic and pneumatic systems, to serve commercial aircraft companies, suppliers and distributors, and U.S. and allied militaries. For more information, visit http://www.trsaero.com.

LLamasoft Acquires South African Supply Chain Software

ANN ARBOR — The Ann Arbor-based supply chain design software developer LLamasoft said this week that it had acquired the supply chain software division of Barloworld Ltd., an industrial brand management company based in Johannesburg, South Africa.

The companies said the acquisition does not cover Barloworld’s key territories in South Africa and the United Arab Emirates, where the two companies will work in partnership.

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Lear Acquires Intellectual Property From Autonet Mobile

SOUTHFIELD — Lear Corp. (NYSE: LEA) the Southfield-based supplier of automotive seating and electrical distribution systems, announced that it has acquired intellectual property and technology from Autonet Mobile, a Santa Rosa, Calif.-based developer of software and devices for automotive applications.

As part of the acquisition, Lear has hired key members of Autonet Mobile’s software and product development team. The exact number of hires was not immediately disclosed.

Autonet Mobile will continue to operate and offer products to the automotive aftermarket through a technology license from Lear. Financial terms of the transaction were not disclosed.

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Mojix Acquires Internet of Things Platform Provider TierConnect

LOS ANGELES — Mojix, the Los Angeles-based provider of wireless sensor network products and services, announced the acquisition of Plymouth-based TierConnect and its subsidiary CodeRoad, creators of a platform for the Internet of Things called ViZix.

This acquisition enables Mojix to offer comprehensive and fully configurable software with advanced analytics, enabling end-to-end business intelligence and data visibility across multiple industries. This will further bridge the gap between its RFID hardware platform, the edge and IoT.

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Whirlpool To Buy Commercial Laundry Manufacturer

BENTON HARBOR — Whirlpool Corp. said Monday it had an agreement to buy American Dryer Corp. of Fall River, Mass. Terms of the transaction were not immediately disclosed.

Whirlpool said the deal included a 300,000-square-foot manufacturing plant, an engineering and design center, and 230 employees. The world’s largest appliance maker said the plant “will become a valuable part of the Whirlpool manufacturing portfolio.”

American Dryer manufactures and markets coin-operated, on-premise, industrial and specialty laundry equipment.

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Burroughs Buys Chicago ATM Service Firm

PLYMOUTH — Burroughs Inc., the Plymouth-based financial services technology provider, announced the acquisition of Pendum LLC, a Chicago-based provider of ATM services and equipment for financial institutions.

Terms of the tranaction weren’t disclosed.

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