SOURCE: Johnson Electric Holdings Limited

Johnson Electric Holdings Limited

October 27, 2015 20:30 ET

Johnson Electric Completes the Acquisition of Stackpole International

HONG KONG, CHINA--(Marketwired - Oct 27, 2015) - Johnson Electric Holdings Limited ("Johnson Electric") (HKSE: 179), a global leader in electric motors and motion subsystems, today announced that it has completed the acquisition of Stackpole International ("Stackpole"), a leading supplier of engine and transmission pumps and powder metal components, primarily for automotive applications.

Stackpole, headquartered in Ontario, Canada, has a 109-year history as a supplier of highly-engineered components to the automotive industry. It employs over 2,500 individuals across a global operating footprint that includes nine manufacturing facilities located in North America, Europe and Asia. Its blue-chip customer base is comprised mainly of the world's leading automotive original equipment manufacturers and their Tier 1 suppliers. 

Dr. Patrick Wang, Johnson Electric's Chairman and Chief Executive, commented, "The combination of Stackpole's pumps and powder metal expertise with Johnson Electric's electric motor capabilities and global resources provides us with a unique opportunity to design and deliver integrated motorised pump solutions for our customers. These innovative new products will strengthen the Group's position as a leading supplier to key engine and transmission applications that contribute to improved fuel economy and reduced emissions."

Johnson Electric acquired Stackpole from SI Investors, L.P., a limited partnership majority owned by Crestview Partners, in an all-cash transaction that valued Stackpole at C$800 million on an enterprise value basis.

"We are very excited to take this next step with Johnson Electric," said Peter Ballantyne, President and CEO of Stackpole. "It allows for the continued advancement of our core product portfolio and the development of innovative new technologies to meet the changing needs of our industry. It also offers our employees additional benefits from becoming part of a larger manufacturing group that brings global breadth and financial strength to support our growth initiatives over the long term."

The combined company has a global workforce of over 37,000, with operations in more than 20 countries worldwide.

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About Johnson Electric Group
The Johnson Electric Group is a global leader in electric motors and motion subsystems. It serves a broad range of industries including automotive, building automation and security, business machines, food and beverage equipment, home technologies, HVAC, industrial equipment, medical devices, personal care, power equipment and power tools. The Group is headquartered in Hong Kong and the total global headcount stands at over 37,000 individuals located in Asia, the Americas and Europe. Innovation and product design centres are located in Hong Kong, China, Canada, Switzerland, Germany, Italy, Israel, Japan, the UK and the USA. Johnson Electric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited (Stock Code: 179). For further information, please visit: www.johnsonelectric.com.

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