RTI TECHNOLOGIES, INC. HAS AGREED TO BE ACQUIRED BY MAHLE
Birmingham, Michigan – December 6, 2012 – Angle Advisors is pleased to announce that MAHLE Group (“MAHLE”) has agreed to acquire the business of RTI Technologies, Inc. (“RTI Technologies” or the “Company”), an affiliate of Robert Bosch GmbH. The transaction is subject to certain customary closing conditions and is expected to close effective January 1, 2013. Angle Advisors acted as the exclusive investment banking advisor to Robert Bosch GmbH and RTI Technologies in managing this transaction.
Based in York, Pennsylvania, RTI Technologies develops, assembles and sells various types of automotive service and maintenance equipment including air conditioning service equipment, nitrogen tire inflation systems, fluid exchange systems, and accessories. Established in 1990, the Company serves do-it-for-me service outlets such as dealerships, national and regional service chains, and independent repair garages.
“RTI Technologies presents a tremendous opportunity for MAHLE to expand our business into the repair shop equipment sector of the Automotive Aftermarket,” said Dan Moody, General Manager of MAHLE’s Aftermarket business for North America. “Given the long-term approach to the Aftermarket as an important sales channel for MAHLE globally, this acquisition will broaden our Aftermarket offerings within our strategic product and service range and make us one of the leaders in this segment in North America. This acquisition will also further leverage our global position as a filter manufacturer – particularly as it relates to MAHLE Original cabin air filters for light vehicle and truck air conditioning systems,” Moody went on to say.
Alex Breuning, Director of Mergers & Acquisitions – Americas at Robert Bosch LLC, added, “We hired Angle Advisors for their deep experience in the automotive aftermarket and their hands-on approach. Their strong global relationships in the industry and commitment to our project greatly helped us consummate a successful transaction for RTI Technologies, its employees, and customers.”
Jeff Murphy, President & CEO of RTI Technologies, stated, “It was a pleasure working with the team from Angle Advisors. They were instrumental in helping us position the business and demonstrate our growth plan. We are very pleased with the outcome of the sale process and excited to be owned by MAHLE in working to execute our future growth.”
The MAHLE Group is one of the 30 largest companies in the automotive supply industry worldwide. With its two business units Engine Systems and Components, and Filtration and Engine Peripherals; MAHLE ranks among the top three systems suppliers worldwide for piston systems, cylinder components, valve train, as well as air management, and liquid management systems. The Industry business unit bundles the MAHLE Group's industrial activities. These include the areas of large engines, industrial filtration, as well as cooling and air-conditioning systems. The Aftermarket business unit serves the independent spare parts market with MAHLE products in OE quality. In 2011, the MAHLE Group achieved sales of around $8.3 billion; approximately 49,000 employees work at over 100 production plants and eight research and development centers worldwide. For additional information, please visit www.mahle.com.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, more than 300,000 associates generated sales of 51.5 billion euros in fiscal 2011. The Bosch Group comprises Robert Bosch GmbH and its roughly 350 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spent some 4.2 billion euros for research and development in 2011, and applied for over 4,100 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial. For additional information, please visit www.bosch.com.
Angle Advisors,withoffices in the United States, Germany, the United Kingdom, and China, specializes in a variety of industries including the vehicular and industrial sectors. The firm’s 32 professionals provide mergers and acquisitions, capital raising, and debt advisory services to multinational corporations, privately-held companies, private equity funds and public sector clients.For additional information, please visit www.angleadvisors.com.