Zhongshan Broad-Ocean Motor Co., Ltd. acquires Prestolite Electric, LLC

PRESS RELEASE   Media Contact:
    Steven Blow
For Immediate Release   Eisbrenner PR
    248-303-1067
    sblow@eisbrenner.com

Zhongshan Broad-Ocean Motor Co., Ltd. acquires Prestolite Electric, LLC

April 16, 2015, Plymouth, Mich.¬– Prestolite Electric, LLC is pleased to announce that Zhongshan Broad-Ocean Motor Co., Ltd. (Broad-Ocean Motor) completed its acquisition of Prestolite Electric, LLC and its subsidiaries on April 7, 2015. Terms of the deal were not disclosed.

This acquisition closely aligns the synergies of Broad-Ocean Motor and Prestolite Electric, resulting in world-class products and services to our global and regional customers. Prestolite’s full range of products now includes high output alternators and starter motors for a vast array of applications in numerous industries such as automotive, school, coach, and city buses, commercial truck, off-road equipment, and mining vehicles, in addition to large capacity diesel engine generators and marine.

Product offerings include 12, 24, 48, and other voltage ranges of alternators from 30 amperes to 600 amperes and starter motors from 0.7 kilowatt to 15 kilowatt, and motors and controllers of various output ranges, backed by a worldwide service and support network.

In January 2014, Broad-Ocean Motor acquired Prestolite Electric’s China alternator, starter motor, and electric vehicle component manufacturing operations. The current transaction completes the combined Broad Ocean-Prestolite global footprint, which spans Africa, Europe, Oceania, North, Central, and South America.

Together, Broad-Ocean Motor and Prestolite Electric will leverage each other’s strengths to enhance the product offerings and maximize growth potential across the globe.

“Broad-Ocean Motor has been serving its customers and growing its business for over 20 years. The Prestolite Electric acquisition will add value long-term for our shareholders and will allow us to further grow our business globally,” said Charles Lu, Chairman of Broad-Ocean Motor. “This acquisition will enable us to pursue our strategic plans to benefit our customers, suppliers, and employees.”

Broad-Ocean Motor is a global supplier of high-tech, high quality motors, alternators, and starters to multiple segments including appliances, air handlers, vehicle electrification, and light duty for the transportation sector. Broad-Ocean Motor was established in 1994 and is publicly traded in China.

Prestolite Electric is a global supplier of alternators, starters, and new energy solutions for commercial truck, bus, off-road equipment, military, and electric vehicles. Since 1911, Prestolite Electric has established a reputation of providing superior solutions to the transportation and industrial markets around the globe.