Debevoise & Plimpton LLP is advising UCI Holdings Limited (“UCI”), the parent company of UCI International, Inc. (“UCI International”), in an agreement to sell its Wells vehicle electronics business to NGK Spark Plug Co, Ltd. for an aggregate amount of approximately $257 million, subject to certain adjustments based on closing date cash, indebtedness and working capital. The transaction is expected to close early in the third quarter of 2015, pending final regulatory approvals and the satisfaction of other customary closing conditions.
UCI International is among North America’s largest and most diversified companies servicing the vehicle replacement parts market. The company supplies a broad range of products to the automotive, trucking, marine, mining, construction, agricultural and industrial vehicle markets. The company’s customer base includes leading aftermarket companies as well as a diverse group of original equipment manufacturers.
The Debevoise team is led by partner Kevin M. Schmidt and includes partners Michael Bolotin and Pierre Maugüé and counsel Stuart Hammer, Christopher Rosekrans and Charles E. Wachsstock.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.