Acquisitions · Auto parts (aftermarket electronics)
NGK Spark Plug buys auto electronics maker Wells for $257.5 million
- Buyer
- NGK Spark Plug (Nagoya, Aichi)
- Target
- Wells Manufacturing (Wells Vehicle Electronics), Fond du Lac, Wisconsin
- Value
- $257.5M announced; about $251.4M at closing after adjustments
- Status
- Completed on July 1, 2015.
- Date
- 2015-05-08
NGK Spark Plug agreed to buy Wells Manufacturing, a Fond du Lac, Wisconsin maker of vehicle electronics for the aftermarket, from UCI Holdings for $257.5 million. After adjustments, the price at closing was about $251.4 million. The seller, UCI Holdings, is a New Zealand-registered holding company of the US UCI group.
Why it matters
The purchase widened NGK Spark Plug's aftermarket range in North America beyond spark plugs and sensors.
Sources
Kakehashi M&A News home
