Vari-Form Acquired by Crowne Group
Crowne expands its reach into OEMs, Tier 1 suppliers and a growing number of European and Asian car makers.
Posted: August 19, 2015
Vari-Form Corporation (Troy, MI), an industry-leading manufacturer of lightweight, hydroformed structural parts for pickup trucks, SUVs and light vehicles, is pleased to announce the acquisition of the company by Crowne Group, LLC (Cleveland, OH).
Vari-Form has three manufacturing locations in North America, with a state-of-the-art technical center in Strathroy, ON, Canada and a non-union workforce of approximately 400 employees. The manufacturer 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, the chief financial officer of Vari-Form, 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 us to maintain and further develop its product offerings for our OEM and supplier partners.”
“They represent an excellent strategic fit for us with their 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, the chief financial officer of Crowne. “We are excited to continue to expand our automotive product offerings and technologies and look forward to working with them to successfully execute our growth strategy.”
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