United Components to Acquire ASC Industries

United Components, Inc. (UCI) has entered into a definite agreement to acquire the capital stock of water pump manufacturer ASC Industries, Inc.
The transaction values ASC at $154.7 million U.S., including assumption of certain debt, and also calls for UCI to pay ASC stockholders an additional $4 million in purchase price following the acquisition based upon the achievement of certain operational objectives.
Once the acquisition is complete, ASC will become the seventh operating unit in the United Components group, which includes Airtex, Champion Laboratories, Wells Manufacturing Corp, Neapco, Flexible Lamps and Pioneer, Inc.
Completion of the transaction is subject to regulatory approval and other customary closing conditions.
“ASC is an innovative company that has an excellent growth trend. ASC has leveraged their unique business model and import strategy to quickly become an industry leader in water pump manufacturing,” said Bruce Zorich, CEO of UCI. “We are very pleased to welcome ASC into the UCI family. We believe the combining of ASC with our existing water pump business will be an excellent fit and result in a strong, efficient business that will compete well in today’s increasingly competitive global marketplace.”
“We’re very excited to partner with UCI,” said Ted Swaldo, president and CEO of ASC. “We look forward to continuing ASC’s tradition of quality and innovation as part of the UCI team.”