MAHLE announces agreement to acquire RTI Technologies
Ann Arbor, Michigan, November 29, 2012 – MAHLE has announced that it has entered into a definitive agreement with Robert Bosch GmbH to acquire all assets and the related business of RTI Technologies, Inc. RTI Technologies specializes in the development and distribution of automotive maintenance equipment including air conditioning service, fluid exchange, and nitrogen tire inflation systems. RTI Technologies, based in York, Pennsylvania, had sales of USD 14.7 million in 2011 and has 60 employees. The transaction is subject to certain customary closing conditions and is expected to close on January 1, 2013.
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.
Established in 1990, RTI Technologies develops, assembles and sells various types of automotive maintenance equipment including air conditioning service units in North America. Among RTI’s strengths is the organization’s ability to provide leading solutions for all available refrigerants used in mobile air conditioning systems.
RTI Technologies currently supplies shop equipment to major original equipment manufacturers around the world. It also sells equipment under the RTI brand in the Independent Aftermarket. RTI Technologies as a future part of MAHLE will focus on continuous sales growth and customer service in North America as well as potential business expansion in other regions.
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 USD 8.3 billion; approximately 49,000 employees work at over 100 production plants and eight research and development centers worldwide.