Universal Automotive Acquires TRW Brands

Universal Automotive has purchased several business assets of TRW Automotive’s Kelsey-Hayes subsidiary.
The Livonia, Mich.-based businesses sold for $11 million U.S. in cash plus additional contingent payments.
Universal has acquired the Autospecialty, ValuMaxx and Power Stop brands from Kelsey-Hayes. It also has entered into a licensing agreement for the use of the TRW trademark for premium quality brake rotors and drums and a supply agreement for TRW suspension products.
With the acquisition, annualized sales of Universal Automotive are expected to exceed $100 million U.S. Assets being acquired from Kelsey-Hayes generated sales in 2003 of approximately $55 million U.S. Universal Automotive Industries had 2003 net sales of approximately $58 million U.S.