TROY, Mich., Aug. 3, 2015 /PRNewswire/ -- Vari-Form is
pleased to announce the acquisition of the company by Crowne Group,
LLC ("Crowne"). Vari-Form is the industry-leading
manufacturer of lightweight, hydroformed structural parts for
pickup trucks, SUVs and light vehicles. Vari-Form has three
manufacturing locations in North
America with a state-of-the-art technical center in
Strathroy, Ontario, Canada and a
non-union workforce of approximately 400 employees. Vari-Form
is also expanding its global footprint with new plants under joint
venture relationships in Mexico
and Italy scheduled to begin
operations this year. Terms of the transaction were not
disclosed.
Jim Maraz, Vari-Form Chief
Financial Officer, said, "We are excited to begin working with
Crowne, a known leading manufacturer and distributor of component
parts in the automotive industry, who has strong long-term
relationships with many of its top customers including OEM's and
Tier 1 suppliers. Combining our industry knowledge and
building on our customer relationships will enable Vari-Form to
maintain and further develop its product offerings for our OEM and
supplier partners."
"Vari-Form represents an excellent strategic fit for Crowne with
its industry-leading hydroforming technology and strong and
expanding base of blue-chip customers, comprised of leading OEM's,
Tier 1 suppliers and a growing number of European and Asian car
makers," said Stephen Graham, Chief
Financial Officer of Crowne. "We are excited to continue to
expand our automotive product offerings and technologies and look
forward to working with Vari-Form to successfully execute our
growth strategy."
About Vari-Form
Headquartered in Troy, Michigan, with production facilities in
Strathroy, Ontario, Canada;
Reynosa, Mexico; Kunshan
(Shanghai), China; and Canton, Mississippi. Vari-Form
originated the patented Pressure Sequence Hydroforming ("PSH")
process for high volume tubular body structural components and
assemblies. The PSH process uses relatively low water
pressure (as compared with traditional hydroforming) to form a tube
to the shape of a die cavity. This unrivaled technological
expertise and proprietary PSH process provides substantial weight
and cost savings. There has been significant capital
investment in 20 hydroforming presses which produce over 7 million
parts annually. Vari-Form is the industry leader and has
produced more than 100 million parts to date. For more information,
visit www.vari-form.com.
About Crowne Group, LLC
Crowne, headquarter in
Cleveland, Ohio, is a leading
manufacturer and distributor of both Aftermarket and OEM component
parts for the automotive and other industrial equipment
markets. Crowne serves numerous leading customers in both the
Aftermarket and Original Equipment markets including mass retail,
distributors, OEM and Tier 1 manufacturers. Crowne has a
strong reputation in the industry and offers a diverse portfolio of
products, including windshield wiper blades and components; OEM
wiper systems; fuel pumps, systems and accessories; gas spring lift
supports; injection molded plastic products; carbon and stainless
steel tube components; and fabricated tube products for exhaust
systems.
Since 2004, Crowne has successfully completed and integrated ten
acquisitions. Crowne currently employs approximately 4,000
people and operates ten manufacturing facilities in North America and three additional
international manufacturing / assembly facilities globally.
For more information, visit www.crownegroupllc.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/vari-form-joins-crowne-group-llc-300122690.html
SOURCE Vari-Form