Bosch completes acquisition of SPX Corporation's Service Solutions business
Purchase of U.S. diagnostics and service specialist expands product portfolio
- Acquisition strengthens Bosch market position in workshop and repair
- Portfolio for brand-dependent workshops extended
- Expansion of global presence in the diagnostics area
KARLSRUHE, Germany and CANTON, Mich., Dec. 4, 2012
KARLSRUHE, Germanyand CANTON, Mich., Dec. 4, 2012 /PRNewswire/ --Following
approval by the antitrust authorities, Bosch has completed its acquisition of
the Service Solutions business of SPX Corporation. The agreement to purchase
the U.S. automotive diagnostics specialist was signed in January this year.
The Service Solutions business develops, manufactures, and sells service
equipment, repair-shop accessories, and software for the global automotive
market. Based in Canton, MI (USA), the Service Solutions business generated
sales of some 920 million dollars (some 660 million euros) in 2011. The
company employs some 2,800 associates in 17 countries, and has manufacturing
sites in the U.S., Germany, France, and China. The purchase price is
approximately 1.15 billion dollars (some 885 million euros).
"In acquiring the Service Solutions business, we will become a comprehensive
supplier of solutions in the diagnostics and repair business. In expanding our
portfolio and extending our global presence, especially in the U.S., we are
strengthening our position," said Robert Hanser, the president of the Bosch
Automotive Aftermarket division. "We will quickly merge our know-how and
wealth of experience in this growing market. Our aim is to become the world's
leading supplier of diagnostics solutions for all makes of vehicles."
Network of core competencies for a growing market
With automotive electronics becoming increasingly complex, the market for
diagnostics solutions has a great deal of potential for growth. Up to now,
Bosch has served this market with products and services for diagnosing,
servicing, and repairing passenger cars and commercial vehicles, with
brand-independent workshops as its main customers. The portfolio of the
Service Solutions business comprises engineering services for automakers, as
well as accessories and services for workshops that are contractually bound to
individual automakers. Combining these complementary areas of competence will
provide Bosch with a wider range of customers and a broader portfolio, and
open up new market opportunities, especially in Asia Pacific and European
Areas to be merged in the new "Automotive Service Solutions" business unit
The business activities of the Service Solutions business will be integrated
into the Bosch Automotive Aftermarket division, a leading supplier of
aftermarket-specific products and services which generated sales of some 4.3
billion euros in 2011. As part of an integration project, the new "Automotive
Service Solutions" business unit will be set up. The former Diagnostics
business unit will also become part of this new business unit. All in all,
these two business units generated sales of roughly one billion euros in 2011.
Tanvir Arfi, who was president of the Service Solutions business for many
years, will be in charge of Automotive Service Solutions and its 4,200
associates. The unit's world headquarters will be in Canton, MI (USA). The
European operations of Automotive Service Solutions will be managed from the
Plochingen location in Germany.
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 11,000
associates in 140 countries, as well as a global logistics network, ensure
that some 450,000 different spare parts reach customers quickly and on time.
In its "Diagnostics" 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 15,000 franchises. In addition, AA is responsible for more than 500
Additional information can be accessed at www.bosch-automotive.com.
The Bosch Group is a leading global supplier of technology and services. In
the areas of automotive and industrial technology, consumer goods, and
building technology, more than 300,000associates generated sales of
51.5billioneuros ($71.7 billion) in fiscal year 2011. The Bosch Group
comprises Robert Bosch GmbH and its roughly 350subsidiaries and regional
companies in some 60countries. If its sales and service partners are
included, then Bosch is represented in roughly 150countries. This worldwide
development, manufacturing, and sales network is the foundation for further
growth. Bosch spent some 4.2billioneuros ($5.8 billion) for research and
development in 2011, and applied for over 4,100patents worldwide. With all
its products and services, Bosch enhances the quality of life by providing
solutions which are both innovative and beneficial.
Further information is available online at www.bosch.com and
Contact: Chandra Lewis, +1-248-876-6731, Chandra.Lewis@us.bosch.com
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