TROY, Mich., Nov 24, 2004 /PRNewswire-FirstCall via COMTEX/ -- ArvinMeritor, Inc.
(NYSE: ARM) announced today that it has sold Roll Coater, Inc., a wholly owned
subsidiary, to an affiliate of Willis Stein & Partners. The cash purchase
price of the stock transaction is approximately $162.5 million. National City
acted as the financial advisor to ArvinMeritor for this transaction.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010524/ARVINLOGO )
Roll Coater is a leader in the coil coating industry, and supplies a
variety of markets, including automotive, appliance, heating and air
conditioning, transportation, construction, roofing, and consumer products.
The company will remain headquartered in Indianapolis, Ind., with state-of-
the-art facilities in Greenfield, Ind.; Kingsbury, Ind.; Hawesville, Ky.; and
"This divestiture gives Roll Coater and its employees an opportunity to
prosper, while allowing ArvinMeritor to focus on its core competencies in the
global automotive and heavy truck markets," said Charles G. "Chip" McClure,
ArvinMeritor chairman, CEO and president.
"We are very excited to acquire Roll Coater, with its leading position and
growing stable of blue chip customers," said Daniel H. Blumenthal, managing
director, Willis Stein & Partners. "We look forward to working closely with
Roll Coater's outstanding management team to continue to grow the business
organically and through acquisitions."
"I'm thrilled about Roll Coater's future and what this means for our
valued customers and employees," said Bob O'Neal, CEO of Roll Coater. "We are
very eager to move forward with our new ownership structure in place. With
this announcement, Roll Coater is well positioned to build on a solid base by
investing more to expand the company's manufacturing capabilities. Roll
Coater will continue to deliver top-quality products to fit the ever-changing
needs of our customers, as well as pursue other opportunities that will enable
us to even further exceed market expectations."
Willis Stein & Partners is a leading private equity firm that focuses on
investments in profitable, well-managed and growing businesses. The
principals of Willis Stein have made investments in 47 companies and manage
approximately $3 billion in equity capital. For more information, please
visit http://www.willisstein.com .
ArvinMeritor, Inc. is a premier $8 billion global supplier of a broad
range of integrated systems, modules and components to the motor vehicle
industry. The company serves light vehicle, commercial truck, trailer and
specialty original equipment manufacturers and related aftermarkets.
Headquartered in Troy, Mich., ArvinMeritor employs approximately 32,000 people
at more than 150 manufacturing facilities in 27 countries. ArvinMeritor
common stock is traded on the New York Stock Exchange under the ticker symbol
ARM. For more information, visit the company's Web site at:
SOURCE ArvinMeritor, Inc.
both of ArvinMeritor, Inc.
Brainerd Communicators, Inc.
for Willis Stein & Partners