UCI Enters Into Definitive Agreement to Sell Wells Vehicle Electronics Business
May 8, 2015, LAKE FOREST, IL —BUSINESS WIRE — UCI Holdings Limited (“UCI”), the parent company of UCI International, Inc. (“UCI International”), announced today that it has entered into an agreement to sell its Wells vehicle electronics business to NGK SPARK PLUG CO., LTD. for an aggregate amount of approximately $257 million, subject to certain adjustments based on closing date cash, indebtedness and working capital.
The transaction is expected to close early in the third quarter of 2015, pending final regulatory approvals and the satisfaction of other customary closing conditions.
Sawaya Segalas & Co., LLC and Nomura Securities International, Inc. acted as financial advisors to UCI on this transaction.
About UCI International
UCI International is among North America’s largest and most diversified companies servicing the vehicle replacement parts market. The company supplies a broad range of products to the automotive, trucking, marine, mining, construction, agricultural and industrial vehicle markets. The company’s customer base includes leading aftermarket companies as well as a diverse group of original equipment manufacturers.