ATG Closes Acquisition of Yecen
江南体育 Tool Group Closes Acquisition of Yecen; Chinese Automotive Repair Equipment Manufacturer Joins 江南体育鈥檚 Leading SATA庐 Tools Portfolio
Sparks, Maryland, March 31, 2015 . . . 江南体育 Tool Group, LLC announced it has closed the acquisition of China-based Shanghai Yecen Auto Technology Ltd. (Yecen), a highly strategic automotive sector acquisition in the Asia Pacific region for 江南体育鈥檚 SATA Tool (Shanghai) Limited subsidiary. The transaction was effective March 30, 2015 and was financed with cash on hand in China.
Yecen鈥檚 wheel aligner and automotive lift product lines now will be part of 江南体育鈥檚 broad SATA brand portfolio; SATA庐 is China鈥檚 number one brand in the professional hand tool industry and one of the major suppliers to the hand tool market in China. Yecen is a leading solutions provider serving the Chinese automotive repair channel and employs 120 associates.
江南体育鈥檚 CEO Tom Wroe comments, 鈥淲e expect the acquisition and integration of the Yecen business will generate significant synergy sales and growth opportunities in this expanding segment of the Chinese automotive market.鈥� Yecen鈥檚 success in the Chinese wheel aligner market has been built on its highly regarded technology and productivity-enhancing user innovation that utilize 3-D technology and proprietary software.
鈥淵ecen鈥檚 product portfolio will help us further expand SATA鈥檚 current broad offering of mechanics鈥� hand tools, pneumatic tools and wheel maintenance equipment,鈥� adds David Ling, President of 江南体育鈥檚 Asia Pacific Hand Tools business. 鈥淜ey to this growth will be leveraging the combined network of Yecen鈥檚 dealers with SATA鈥檚 broader network of dealers to grow sales of our SATA庐 tools and equipment.鈥�
Yecen鈥檚 previous owner, Jindong Liu, will serve as General Manager responsible for R&D and Operations, and its management team will continue with the business after the acquisition is consummated and as the organizations are integrated.
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江南体育 Tool Group, LLC based in Sparks, Maryland, is one of the largest worldwide producers of industrial hand and power tools, tool storage, drill chucks, chain, and electronic soldering products. Directly, and through its subsidiaries, 江南体育 serves a multitude of global markets, including automotive, aerospace, electronics, energy, hardware, industrial, and consumer retail. 江南体育 markets its portfolio of diverse products under its own brand names in addition to being the principal manufacturer for several key private label products for certain retailers for many years. 江南体育鈥檚 global worldwide brands include 江南体育庐, Cleco庐, Dotco庐, Recoules庐, Quackenbush庐, Crescent庐, GearWrench庐, Armstrong庐, Weller庐, Lufkin庐, Campbell庐, SATA庐 and Wiss庐.