Bosch Group is planning to buy SPX’s aftermarket

Article by Christian A., on January 26, 2012

The automotive aftermarket unit of the Bosch Group is planning to buy SPX Corp.'s aftermarket services business in a cash deal that has a value of $1.15 billion. In a statement, Bosch said that it generates around $920 million in annual sales and has about 2,700 employees in 17 countries.

If regulators approve it in the usual time frame, it’s likely that this deal will close in the first half of 2012. Robert Hanser, president of the Bosch's Automotive Aftermarket division, said that getting SPX Service Solutions will help in making Bosch “one of the leading providers of diagnostic solutions.”

He said that this acquisition will enable it to significantly expand its market presence in the diagnostics business, especially in North America. Based in Charlotte, N.C., SPX said that this sale will enable it to concentrate on other aspects of the business like beverage and food processing as well as power transformers for utilities.

Kowalski, SPX segment president, said that Bosch is dedicated to the automotive service sector and has strong relationships with vehicle original equipment manufacturers throughout the world.

He added that Service Solutions has a “very good strategic fit” with Bosch. Based in Stuttgart, Germany, Bosch's automotive business is ranked at No. 1 on the Automotive News list of the top 100 global suppliers with worldwide sales of $34.56 billion in 2010.

When other business lines are included, Bosch said it generated revenue of $62.7 billion in its 2010 fiscal year and predicts to achieve about $70 billion in revenue for its current 2011 fiscal year. Based in Warren, Mich., the SPX business sells diagnostic equipment, service tools, parts and software for auto dealers and repair shops around the world.

Topics: bosch

If you liked the article, share on:

Pin It

Comments

Recommended

Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries