DriveSol Acquires Wabash Technologies

DriveSol Worldwide Holding Corp., an affiliate of Sun Capital Partners, Inc. and owner of DriveSol Worldwide, Inc., announced today that it has acquired Wabash Technologies Inc.
Wabash is a leading global designer and manufacturer of a broad range of custom designed sensors and actuators, which include pedal position sensors, throttle/ETC position sensors, engine timing sensors, rotary/linear position sensors, and fuel injection stators/actuators for gas and diesel power-train markets. Currently, Wabash produces over 20 million sensors and over five million fuel injection stators/actuators annually for a customer base which includes all major OEMs, as well as leading Tier 1 systems suppliers serving the automotive, heavy vehicle, agriculture, construction, and off-highway global markets.
Mark Simon, President and CEO of DriveSol Worldwide Holding Corp., said, “The acquisition of Wabash is another step forward in implementing DriveSol’s long-range strategy of becoming a global leader in electro-mechanical driver control assemblies and sensor and actuation products.
“This acquisition also reinforces our long-term commitment as a key supplier to the automotive and industrial markets.”
Joe Gonnella, President and CEO of Wabash Technologies, states, “This business combination will deliver significantly higher added-value to our shared customer base.
“Highly synergistic product technologies provide us with a unique capability to design innovative electro-mechanical products and systems that fully integrate electronic controls into related mechanical functions.
“Furthermore, our expanded manufacturing footprint, including low- cost sites in all major automotive markets, positions us to be globally competitive across all product lines.”
Wabash Technologies has manufacturing facilities in Mexicali, Mexico; Krakovany, Slovakia; and Huntington, Indiana where it also has a global design and process-engineering center.
In addition, Wabash has dedicated sales and program management offices in Detroit and Swindon, U.K.
Wabash has an experienced workforce of approximately 1,000 employees worldwide.