GUD HOLDINGS STRENGTHENS ITS AUTOMOTIVE PORTFOLIO
GUD Holdings has acquired Australian Clutch Services
GUD Holdings Limited announced on February 10 that it has entered into an agreement to acquire 100 percent of the shares in the businesses of Australian Clutch Services Pty Ltd, (ACS) and subsidiaries XCLUTCH USA Inc and ACS NZ Pty Limited.
Completion of the acquisition is expected to occur on 1 March 2021.
“This is a strategic acquisition of a strongly performing business which complements GUD’s automotive portfolio,” GUD Holdings Managing Director and Chief Executive Officer, Graeme Whickman, said.
“This acquisition follows in close succession to GUD’s acquisition of companies formerly comprising AMA’s ACAD business, in further demonstration of GUD’s growth strategy.
“We are delighted to add ACS, a proudly Australian and Adelaide-based business with a heritage of over 30 years servicing the industry, to our portfolio.
“ACS enjoyed strong sales growth over the past year and is well placed to continue that growth going forward in both ANZ and international markets.
“ACS has a diverse customer base and is a leader in the traditional manual clutch, and the growing higher value dual clutch transmission replacement/repair markets.
“The business is an excellent complement to Disc Brakes Australia (DBA). ACS and DBA together will form GUD’s Friction-based businesses, to be led by Mr Gideon Segal, currently Executive General Manager of DBA.
“We look forward to welcoming the ACS employees to the GUD team.”
With the change in ownership to GUD, ACS Founder Brenton Jordan will stay on with ACS for a short period to work alongside Gideon Segal and ACS General Manager Sales and Marketing, Simon Acton, to achieve a smooth transition.”
GUD Holdings offers a very comprehensive portfolio of market-leading automotive brands for the Australian and New Zealand markets.
For more information, visit www.gud.com.au