Bosch agrees to acquire Accu Industries
The Bosch Group is acquiring the operating assets of Accu Industries Inc. The acquisition is expected to close before the end of April 2008. The purchase price was not disclosed.
Accu Industries, based in Ashland, Va., employs 45 associates and generated sales of roughly $16 million (approximately 11.7 million euros) in 2007. The company sells tire changers, wheel balancers and wheel alignment equipment.
The acquisition strengthens Bosch's Automotive Aftermarket division and Diagnostics business unit.
"Above all, we want to improve the distribution and service offered by our Bosch Diagnostics business unit in North America," says Hans- Peter Meyen, a member of the executive management of the Automotive Aftermarket division.
"In this market, Accu Industries is well established in the after-sales segment, and is, therefore, a logical extension to the business we already have in the U.S."
Tommy Saunders, president of Accu Industries, will remain with the company in a senior management position.
According to Bosch, Accu Industries will assume responsibility for wheel and tire sales service and technical support in the U.S.
The Bosch Group is made up of Robert Bosch GmbH and its roughly 300 subsidiary and regional companies in more than 50 countries. Its automotive and industrial technology, consumer goods, and building technology segments generated sales of 43.7 billion euros in fiscal 2006.