Cloyes Gear & Products Inc., a designer of timing drive systems and components for the automotive aftermarket, has acquired Rotomaster, a 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 and drive significant growth and expansion for both companies, officials stated.
“Today’s professional technicians recognize Cloyes’ high-quality products,” said John Hanighen, Cloyes president and CEO. “Not only does the acquisition of Rotomaster demonstrate part of our company’s long-term goals and strategy, but more importantly, it supports operational efficiencies for our customers. Cloyes is enthusiastic about expanding its market presence and delivering unparalleled products and services to all our collective customer base.”
With Rotomaster now part of the Cloyes family, the company will continue its expansion of application-specific products. Rotomaster covers more than 75% of the addressable vehicles-in-operation (VIO) today, which will further expand the number of Cloyes’ customers.
“We are pleased to announce our partnership with Cloyes, a move driven by the alignment of our extensive product portfolios, both of which have the high-quality manufacturing standards expected by our valued customers,” said 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 operational excellence and expanded VIO coverage.”
BMO Capital Markets served as exclusive financial advisor to Rotomaster, and King & Spalding served as legal counsel.
