Cloyes Gear & Products, Inc. (“Cloyes”) announced today the acquisition of Rotomaster, a leading global turbocharger and component specialist. Terms of the transaction were not disclosed.
Since 1978, Rotomaster has maintained a deep portfolio of complete assemblies, individual components and service kits for diesel and gas-powered applications. Both Cloyes and Rotomaster’s extensive experience as Tier One aftermarket suppliers will complement each other anddrive significant growth and expansion for both companies.
“Today’s professional technicians recognize Cloyes’ high-quality products,” said Cloyes President and CEO John Hanighen. “Not only does the acquisition of Rotomaster demonstrate part of our company’s long-term goals and strategy, but it more importantly supports the operations efficiencies for our customers. Cloyes is enthusiastic about expanding its market presence and delivering unparalleled products and services to allour customers.”
Cloyes has a strong historical reputation for delivering quality, durability, innovation and unparalleled expertise. With Rotomaster now part of theCloyes family, the company will continue its expansion of application specific products and solutions for the most demanding vehicles on the road – now and into the future. In addition, Rotomaster covers more than 75% of the addressable vehicles-in-operation (VIO) today, which will furtherexpand the number of Cloyes’ customers.
“We are pleased to announce our partnership with Cloyes, a move driven by the alignment of our extensive product portfolio with the high-quality manufacturing standards expected by our valued customers,” stated Garret Wiebe, Rotomaster General Manager. “Previous Rotomaster clients can look forward to a promising future, marked by a steadfast commitment to exceptional customer service, superior operationalexcellence, and expanded VIO coverage.”
Cloyes will be attending AAPEX in Las Vegas October 31 to November 2. Stop by to learn more about the acquisition and Cloyes’ service offerings at booth #A4035. For more information about Cloyes, visit www.cloyes.com.
BMO Capital Markets served as exclusive financial advisor to Rotomaster, and King & Spalding served as legal counsel.
