MURFREESBORO, Tenn. — Wheel balance weight producer Wegmann Automotive G.m.b.H. has acquired parts of the business operations of Alligator Ventilfabrik G.m.b.H. and subsidiaries, a provider of tire valves and tire pressure monitoring systems (TPMS).
As per terms of the agreement, Wegman will take ownership of Alligator sales and distributions operations in Europe and North America for passenger car and heavy-duty truck tire valves and components, in addition to car TPMS sensors and tools.
Financial terms of the deal were not disclosed.
Veitshöchheim, Germany-based Wegmann Automotive said it will continue to use the 100-year-old Alligator brand name, and that all manufacturing will remain at Alligator's existing production site in Europe.
The Alligator North American distribution facility in Buchanan, Mich., will retain all staff and continue its distribution operations, the company said. However, North American sales and ordering responsibilities will immediately be done from Wegmann Automotive USA Inc.' facility in Murfreesboro.
Jeff Waechter, presidentand CEO of the U.S. company, called the transaction "a great opportunity."
"The high-quality products that Alligator delivers to the market are complementary to our existing offer, and through joint efforts of our combined teams, we will be able to increase the overall value we deliver to our customers," Mr. Waechter said.