Remy International Completes Acquisition of Maval Manufacturing
March 5, 2015—Remy International Inc. announced Wednesday that it has completed its acquisition of all assets of Maval Manufacturing Inc., a Twinsburg, Ohio, manufacturer, remanufacturer, and distributor of steering systems, components, and specialty products to the automotive service, original equipment powersports, and off-road specialty vehicle markets.
"We are extremely excited about this strategic acquisition, as it adds a completely new product line that is very complementary to the Remy portfolio. These unique products will provide more value to our customers who look to us to help them manage ever increasing demands and availability of high quality products for the aftermarket," Jay Pittas, Remy president and CEO, said in a release.
Maval Manufacturing was the first independent remanufacturer to achieve a QS 9000 ranking for their steering products and is a global leader in off-road and classic car steering systems. Its quality, management talent, and market position made the company attractive to Remy, according to Pittas. Remy will have Maval retain its brand identities for core products as well as its Unisteer and Wicked Bilt lines.