Affinia Group, including its global filtration operations, but excluding its Affinia South America (ASA) operations, will be sold to MANN+HUMMEL.
Based in Ludwigsburg, Germany, MANN+HUMMEL is a privately-held global filtration expert offering filtration solutions to original equipment 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," says Keith Wilson, President and Chief Executive Officer 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. 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."
The acquisition is subject to regulatory approval and other customary closing conditions.
Affinia Group's financial advisor on this transaction is Robert W. Baird & Co and legal advisor is Hogan Lovells.
