CRP Acquires Atlantic Automotive Enterprises
Aug. 4, 2015—CRP Industries Inc. announced on Monday the acquisition of Atlantic Automotive Enterprises (AAE). AAE will function as a wholly owned subsidiary of CRP and operate independently out of its 125,000-square-foot headquarters and manufacturing facility in Tabor City, N.C.
“This acquisition is a great opportunity for both CRP Industries and AAE, and both companies will gain considerable benefits from our combined experience, skill sets, and core competencies. AAE puts us into the remanufacturing business and also brings us an exciting new product segment that offers significant topline growth potential made possible by our strong market position and the ongoing developments within the power steering product category,” said Daniel N. Schildge, CEO of CRP Industries Inc.
John Treece, AAE owner and founder, will remain at the head of AAE and become a part of the CRP Industries management team and report to Schildge.
“Our organization is extremely excited to be uniting with such an outstanding organization as CRP Industries,” said Treece. “Both companies have a long history and reputation for being quality oriented and service driven. Our corporate values and cultures with respect to how we service our customers and appreciate and value our employees are closely aligned. This is truly a win-win for our collective customers and employees.”