Business/economy

Addition to diagnostics business Bosch plans to acquire SPX Service Solutions Business

  • SPX Service Solutions: sales of approximately 920 million dollars expected in 2011. More than 2,700 associates in 17 countries
  • Acquisition of diagnostic and service specialist helps expansion of global market presence
  • Expansion of product portfolio makes Bosch comprehensive provider of solutions in the automotive aftermarket
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  • January 24, 2012
  • Business/economy
  • Press releases

press release

Karlsruhe, Germany / Charlotte, NC (USA) – The Bosch Automotive Aftermarket division plans to acquire the Service Solutions business of SPX Corporation, headquartered in Charlotte, NC (NYSE, SPW). An agreement to this effect was signed in New York City on January 23, 2012. SPX Service Solutions develops, manufactures and sells diagnostic and service tools, workshop equipment, and software for the global automotive aftermarket. For 2011, the business, which is based in Warren, MI (USA), is expected to generate sales of approximately 920 million dollars (660 million euros). It employs some 2,700 associates in 17 countries, primarily in the U.S., Germany, France, and China. This makes the planned acquisition the largest in the history of the Automotive Aftermarket division. The transaction is subject to normal closing conditions and regulatory approvals, and is expected to close during the first half of 2012. The purchase price amounts to 1.15 billion dollars (roughly 883 million euros).

“Acquiring SPX Service Solutions will help make Bosch one of the leading providers of diagnostic solutions,” said Robert Hanser, president of the Automotive Aftermarket division. “The acquisition will allow us to considerably expand our market presence in the diagnostics business, particularly in North America. In addition, we will strengthen our position in Asia Pacific and Europe, especially in our diagnostics business with automakers.”

Comprehensive solutions for service organizations
The product portfolio of SPX Service Solutions includes vehicle repair solutions, including diagnostic tools and software, as well as special repair service tools. In addition, SPX offers technical information, training programs, equipment for dealerships and repair shops, and services for automaker's service organizations. These products are also used in automakers' authorized dealerships and repair shops. This acquisition will make Bosch a comprehensive provider of solutions for such operations. The products and services of SPX Service Solutions can be found in many different applications, such as passenger cars, heavy-duty trucks, light commercial vehicles, agricultural machinery, and off-highway applications.

David Kowalski, SPX segment president said, “We are proud that we transformed Service Solutions from a domestic hard tool manufacturer into a global supplier of diagnostic solutions, hard tools and repair information services. Bosch is dedicated to the automotive service sector and has strong relationships with vehicle original equipment manufacturers worldwide. We think Service Solutions is a very good strategic fit with Bosch.”


Note: 2011 sales figure converted using Fx rate 1 Euro = $1.3918 U.S. Purchase price
converted using Fx rate 1 Euro = $1.3017 U.S.

The Automotive Aftermarket division (AA) provides the aftermarket and repair shops worldwide with a complete range of diagnostic and repair shop equipment and a wide range of spare parts – from new and exchange parts to repair solutions – for passenger cars and commercial vehicles. Its product portfolio includes products made as Bosch original equipment, as well as aftermarket products and services developed and manufactured in-house. More than 18,000 associates in 150 countries, as well as a global logistics network, ensure that some 650,000 different spare parts reach customers quickly and on time. In its “Automotive Service Solutions” operations, AA supplies testing and repair-shop technology, diagnostic software, service training, and information services. In addition, the division is responsible for the “Bosch Service” repair-shop franchise, one of the world’s largest independent chains of repair-shops, with some 16,500 franchises. In addition, AA is responsible for more than 800 “AutoCrew” partners.

Additional information can be accessed at www.bosch-automotive.com

The Bosch Group is a leading global supplier of technology and services. In 2013, its roughly 281,000 associates generated sales of 46.1 billion euros. (NB: Due to a change in accounting policies, the 2013 figures can only be compared to a limited extent with the 2012 figures). Its operations are divided into four business sectors: Automotive Technology, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 360 subsidiaries and regional companies in some 50 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2013, the Bosch Group invested some 4.5 billion euros in research and development and applied for some 5,000 patents. This is an average of 20 patents per day. The Bosch Group’s products and services are designed to fascinate, and to improve the quality of life by providing solutions which are both innovative and beneficial. In this way, the company offers technology worldwide that is “Invented for life.”

Further information is available online at www.bosch.com and www.bosch-press.com, http://twitter.com/BoschPresse.

PI7645 - January 24, 2012

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