Tag Archive | "ring automotive"

OSRAM COMPLETES RING AUTOMOTIVE ACQUISITION

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OSRAM COMPLETES RING AUTOMOTIVE ACQUISITION


Ring Automotive HQ

Lighting manufacturer Osram has completed on the deal to acquire Ring Automotive, following clearance by the Competition and Markets Authority.

The proposed buyout was announced earlier this year, although details of the transaction have not been disclosed. Ring Automotive was previously owned by industrial investment firm Rubicon Partners.

George Skalski, Managing Director of Ring Automotive said of the deal:  “Being part of the Osram family offers us incredible opportunities for further global expansion. The synergies are enormous and will help us to continue our innovation leadership together. In the future, our customers will benefit from the many years of experience of both companies”.

“In addition to expanding our aftermarket portfolio, the acquisition of Ring will enable us to tap into additional sales potential and further expand our market expertise. The aim is to use the additional market and customer access and create synergies in the product portfolio and distribution channels,” said Hans-Joachim Schwabe, CEO of Osram Automotive.

 

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CONSOLIDATION: OSRAM TO ACQUIRE RING AUTOMOTIVE

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CONSOLIDATION: OSRAM TO ACQUIRE RING AUTOMOTIVE


Lighting manufacturer Osram has agreed to acquire aftermarket brand Ring Automotive. Terms of the deal have not been disclosed and it is still subject to the usual approvals.

In a statement, both businesses feel that this combination will be ‘mutually beneficial’ and will result in many opportunities to complement each other’s offering to the automotive aftermarket.

George Skalski, Managing Director of Ring Automotive said, “We look forward to working alongside Osram and believe that the transaction is very positive news for all of our colleagues and customers. The acquisition secures continued investment in the business, which will support our future growth plans and our leading-edge product innovation.”

 

Deal is ‘mutually beneficial’

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RING LAUNCHES EUROPEAN OFFICES

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RING LAUNCHES EUROPEAN OFFICES


Lighting and accessories brand Ring Automotive has invested £200,000 in a Paris office which is now open for business.

The expansion is part of the firm’s product development plans, that has led to some new appointments within its international team.

Carlos Carrido, Stephan Schneider and Sebastien Richir have been appointed as Sales Managers to improve exports to customers in countries including Spain, Portugal as well as Germany, Austria and Switzerland. Richier will join Ring’s International Business Director Gonzalo Vargas-Zuniga Cruz at the EU office in Le Dome, part of the Roissypole complex of buildings at Roissy Charles de Gaulle International Airport, while the other recruits will work across the continent and have access to the HQ as and when required.

“Approximately a quarter of our sales can be attributed to exports giving some indication of the opportunity that extending our presence across Europe represents,” said Cruz. He concluded. “We know that our sales channels and performance across these markets has significantly improved over recent years and this investment will further reinforce our commitment as we build our portfolio of customers.”

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RING AUTOMOTIVE ACQUIRES CARNATION DESIGNS

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RING AUTOMOTIVE ACQUIRES CARNATION DESIGNS


Ring Automotive has announced the acquisition of vehicle electrical system conversion company Carnation Designs.

The agreement, which will see Ring acquire the trade and specified assets of Carnation Designs, will allow both organisations to pool their resources and skills to develop their business. Carnation Designs, best known for converting vehicles for use as panda cars and ambulances, will benefit from access to increased investment and support in new product development, while for Ring the step will increase its presence in the vehicle conversion market.

Richard Morley, Business Unit Director at Ring, said: “As a progressive brand that is always looking for opportunities to extend our range of specialist products, it made perfect sense for us to acquire Carnation Designs. The business has a strong brand with the Genisys system, and we want to work together to strengthen both organisations and the opportunities that we have in the vehicle conversion sector.

“Bringing together the experience and skill sets of both organisations, the acquisition will allow for the knowledge transfer of specialist vehicle conversion applications to the fleet markets.”

Richard Yates, Business Development Manager from Carnation Designs, comments: “We are pleased to announce the acquisition by Ring, which reinforces our commitment to technically advanced systems that benefit our customers working in specialist vehicle markets.”

“Working alongside Ring will allow us to invest in the future development of our products. We are very excited by the opportunities that this combined knowledge and focus will present. All of the Carnation Designs team is excited to be joining Ring and working closely with them.”

Craig Pettit at Squire Patton Boggs Leeds office provided legal advice to Ring management and Jeff Gardner at Dow Schofield Watts Transaction Services provided financial due diligence services.

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