MAHLE Clevite Canada ULC announced it has entered into an agreement in principal to purchase Canadian engine parts distributor, Engine Parts 1 Inc.
Engine Parts 1 currently serves the Canadian engine parts market with five distribution centers across the country. The proposed deal would transfer ownership to MAHLE Clevite Canada. Engine Parts 1 is a distributor of MAHLE Clevite engine parts.
The acquisition enables MAHLE Clevite to position itself for the long-term in the Canadian engine parts market. The action supports the implementation of the MAHLE Clevite customer service initiatives allowing them to focus directly on servicing the engine parts aftermarket. This MAHLE Clevite initiative also establishes an important step in assuring our valued customers of the long-term commitment for the supply of MAHLE Original, Clevite, Perfect Circle and Victor Reinz products.
The final closing date for this transaction has not yet been established.