The Trico Group is on a buying spree.
Its most recent acquisition is of Anco Wiper Blades. Tenneco announced that it sold the division March 1.
In its quarterly earnings report, Tenneco said the decision to sell was part of rebalancing the portfolio of Driv, it’s new aftermarket parts and OE ride performance company spun off from Tenneco’s acquisition of Federal-Mogul.
The company saw wipers as tangential to its core operations, co-CEO Brian Kessler said during a conference call in mid-March to discuss its quarterly results.
“The wipers product category represented a very small portion of our portfolio and the sale of this business will help strengthen our focus on our core product offerings related to chassis and suspension systems, and engine and powertrain aftermarket,” he said.
“As we prepare for the spin later this year, we’re always keeping an eye on opportunities to strengthen the new Tenneco portfolio as we work to make each business ready to succeed as a standalone company,” said Roger Wood, co-CEO of Tenneco, later in the call.
Trico did not formally announce the acquisition but has included the Anco brand its list of products. Financial terms of the deal were not disclosed.
The company recently acquired Fram, one month after buying ASC Industries and Airtex Products.