Remy Acquires Assets of New York CompanyPosted: Updated:
Pendleton-based Remy International Inc. (Nasdaq: REMY) has acquired the assets of USA Industries in New York. Remy Chief Executive Officer Jay Pittas says the deal allows the company to expand its portfolio and distribution channels.
January 13, 2014
Pendleton, Ind. -- Remy International, Inc. (NASDAQ: REMY), a leading worldwide manufacturer, remanufacturer, and distributor of starters and alternators for light vehicle and commercial vehicle applications, locomotive products, and hybrid electric motors, announced today that it acquired substantially all assets of USA Industries, a Bay Shore, New York manufacturer, remanufacturer, and distributor of starters, alternators, CV axles, and disc brake calipers for the light-duty aftermarket.
"This is an exciting transaction for both organizations," said Remy CEO and President, Jay Pittas. "One of our key growth strategies is to leverage our distribution channels to enhance our rotating electrics portfolio and expand beyond our core rotating electric products. This acquisition accomplishes both as USA has an outstanding reputation with strong product distribution and a diverse product line that includes CV axles, calipers as well as rotating electrics."
"I'm proud to be joining Remy," said Vince Trapani, President of USA. "We are becoming part of a great global company. USA will benefit from Remy's distribution and global reputation, and we will add to Remy's coverage. We can serve our aftermarket customers better together, by offering more complete coverage and better distribution."
Pittas added that this partnership creates synergies by combining products, distribution, and sales forces. "Both the light-duty Remy and heavy-duty Delco Remy brand products will be available through USA's distribution centers."
About Remy International
Founded by the Remy Brothers in 1896, Remy International, Inc. is a leading global manufacturer and remanufacturer of alternators, starter motors and electric traction motors. Headquartered in Pendleton, IN, with global operations across five continents and 10 countries, Remy International markets products under the Delco Remy®, Remy® and World Wide Automotive® brands. Known for innovation, efficiency, quality, and best-in-class customer service and support, Remy International's products are integrated by leading industrial, specialty, automotive and heavy-duty OEMs, and aftermarket providers worldwide. We Start the World & Keep It Running™. www.remyinc.com
About USA Industries
USA is a leading worldwide distributor of premium quality remanufactured and new alternators, starters, CV axles, and disc brake calipers. Founded in 1985 in Bay Shore, New York as a regional remanufacturer, U.S.A.'s quality and service has led to growth. Today, USA Industries has over 300 employees with warehousing and distribution centers across the United States. www.usaind.com
Source: Remy International Inc.