Mann+Hummel closes on Affinia acquisition
Mann+Hummel CEO Alfred Weber, left, with Affinia CEO Keith Wilson. The deal was first announced last August.
German supplier Mann+Hummel said it closed on its acquisition of U.S.-based Affinia Group Inc.’s filtration operations.
The deal was first announced in August and reported to be worth $513.1 million, though Mann+Hummel did not disclose the price in a statement on Thursday.
The German supplier said former Affinia CEO Keith Wilson will stay on to lead its new unit, now called Mann+Hummel Filtration Technology.
Affinia, based in Gastonia, North Carolina, produces aftermarket oil, fuel, air and coolant filters and is best known as the owner of Wix and Filtron filter brands.
“The addition of the Wix and Filtron brands to Mann+Hummel strengthen our global presence with an expanded product portfolio and access to new markets,” Mann+Hummel CEO Alfred Weber said in a statement.
Mann+Hummel, a privately-held company that specializes in filtration systems, employs 20,000 people worldwide.
The deal does not include Affinia’s South American unit, which sold in a separate deal in June.
Affinia is the former replacement parts business of Ohio-based supplier Dana Corp., which sold the unit to private equity firm Cypress and co-investor OMERS in 2004 for $1.1 billion. Affinia's filtration business posted 2014 sales of $967 million. The unit's earnings before interest, tax, depreciation and amortization were $156 million.
Reuters contributed to this report.
