STUTTGART, Germany (March 14, 2008) — Germany's Bosch Group is acquiring the operating assets of Accu Industries Inc.—maker of tire changers, wheel balancers and wheel alignment equipment—for an undisclosed price.
Ashland, Va.-based Accu generated about $16 million in sales last year with 45 employees, Bosch said. The acquisition will strengthen Bosch's Automotive Aftermarket Division and expand the workshop equipment business of its diagnostics business unit.
“Above all, we want to improve the distribution and service offered by our Bosch Diagnostics business unit in North America,” said Hans-Peter Meyen, member of the executive management of Bosch's Automotive Aftermarket Division. “In this market, Accu Industries is well established in the after-sales segment and is therefore a logical extension to the business we already have in the U.S.”
The acquisiton is expected to close before the end of April.
Under the new ownership, Accu Industries will become part of Bosch's U.S. diagnostics business and will assume responsibility for Bosch's wheel and tire service business in the U.S., handling both sales and technical support, Bosch said.
Accu Industries President Tommy Saunders will remain with the company in a senior management position, Bosch said.
Bosch Diagnostics' U.S. office is in Santa Barbara, Calif.
Accu Industries was founded in 1984 as maker of brake lathes and over time added wheel balancers, tire changers and wheel aligment equipment to its portfolio.
Bosch Group is a diversified global supplier of technology and services in a variety of industries.