BorgWarner Acquires Remy International - Engine Builder Magazine

BorgWarner Acquires Remy International

Remy International has signed a definitive agreement to be acquired by BorgWarner, a leading, global supplier of engineered components and systems for powertrains.

Remy International has signed a definitive agreement to be acquired by BorgWarner, a leading, global supplier of engineered components and systems for powertrains.

Commenting on the transaction, Remy Chairman John Weber said, “This transaction provides substantial value to our shareholders, our employees and business partners around the globe. It provides an opportunity to market our products to a much broader and diverse group of original equipment manufacturers. The product and technology synergies are obvious, resulting from each company’s historical focus on separate areas of the global powertrain market.”

Jay Pittas, Remy’s president and CEO, added, “Our products and capabilities should complement BorgWarner very well and support growing vehicle electrification trends.  We are confident our customers and channel partners will benefit from the strategic fit, as it brings together two long-standing industry leaders.”

Under the terms of the agreement, BorgWarner will acquire all of the outstanding shares of Remy for $29.50 per share, in cash, which implies an enterprise value of Remy of approximately $1.2 billion. The completion of the transaction is subject to the approval of Remy’s stockholders as well as certain customary terms and conditions, including antitrust and other regulatory clearances in the U.S. and abroad. The transaction is expected to close in the fourth quarter of 2015.

UBS Investment Bank acted as financial adviser and Sullivan & Cromwell LLP provided legal advice to Remy International.

You May Also Like

Summit Racing Launches ‘My Garage’

In an effort to give car enthusiasts an additional space to show off their vehicles and talk about their projects, Summit Racing has created My Garage on SummitRacing.com. My Garage is a place where you can connect with a community of like-minded folks. You create a ‘garage’ where you can post photos, videos, and updates on your vehicles

In an effort to give car enthusiasts an additional space to show off their vehicles and talk about their projects, Summit Racing has created My Garage on SummitRacing.com. My Garage is a place where you can connect with a community of like-minded folks. You create a ‘garage’ where you can post photos, videos, and updates on your vehicles and projects, then share them with other My Garage enthusiasts. 

TOPDON USA Donates $25,000 for Auto Techs

TOPDON USA, a provider of cutting-edge technology and advanced tools for auto repair professionals and enthusiasts, has announced the donation of $10,000 cash and $15,000 in products to TechForce Foundation, a nonprofit organization dedicated to supporting the education, training and career development of aspiring auto technicians. To date, TOPDON has donated over $66,000 to aid organizations

Amsoil Becomes Official Lubricant of Lingenfelter Performance Engineering

AMSOIL INC. has formed a strategic partnership with Lingenfelter Performance Engineering (LPE) to make AMSOIL products the official lubricants of LPE performance-engineered products. LPE is renowned for its cutting-edge engine builds and engine and chassis tuning components. They also provide component product-development services, durability testing and life-cycle improvements for manufacturers. Founded in 1973, LPE has

Liqui Moly USA Promotes Two to VP of Sales

The two VPs will help assist in shaping the future of the sales department and driving the success of Liqui Moly.

Formula Drift and Partners to Launch Student Program

The 2024 Driven Experience will be free for students and schools, and will include all eight rounds of the 2024 Formula Drift season. 

Other Posts

Motul Partners with Vance & Hines in Numerous Racing Series

Motul’s oils and lubricants will be used by Vance & Hines in King of the Baggers, Twins Cup, and NHRA.

NTK Technologies Announces Merger into Niterra North America, Inc.

NTK Technologies, Inc. has announced it will merge with Niterra North America, Inc. (formerly NGK Spark Plugs (U.S.A.) Inc.). The merger aligns with the organization’s strategy to unify its global brand and aims to enhance its competitiveness and agility in responding to changing business environments. The merger will take effect on April 1, 2024, and

Thousands Oppose California’s Mandate Banning New Gas-Powered Vehicle Sales

SEMA members and industry consumers send EPA over 5,000 letters in opposition to ACC II Waiver

Howell EFI Launches New Website and Promotions

Howell EFI, a leading manufacturer of electronic fuel injection for older pre-computer vehicles of all types, has newly launched a user-friendly website, as well as introduced free ground shipping on orders over $500 to the lower 48 states, and a March Madness sale of 10% off any order. Related Articles – Cummins Announces Next Gen