TROY, Mich., Aug. 3, 2015 /PRNewswire/ -- Vari-Form is pleased to announce the acquisition of the company by Crowne Group, LLC ("Crowne"). Vari-Form is the industry-leading manufacturer of lightweight, hydroformed structural parts for pickup trucks, SUVs and light vehicles. Vari-Form has three manufacturing locations in North America with a state-of-the-art technical center in Strathroy, Ontario, Canada and a non-union workforce of approximately 400 employees. Vari-Form is also expanding its global footprint with new plants under joint venture relationships in Mexico and Italy scheduled to begin operations this year. Terms of the transaction were not disclosed.
Jim Maraz, Vari-Form Chief Financial Officer, said, "We are excited to begin working with Crowne, a known leading manufacturer and distributor of component parts in the automotive industry, who has strong long-term relationships with many of its top customers including OEM's and Tier 1 suppliers. Combining our industry knowledge and building on our customer relationships will enable Vari-Form to maintain and further develop its product offerings for our OEM and supplier partners."
"Vari-Form represents an excellent strategic fit for Crowne with its industry-leading hydroforming technology and strong and expanding base of blue-chip customers, comprised of leading OEM's, Tier 1 suppliers and a growing number of European and Asian car makers," said Stephen Graham, Chief Financial Officer of Crowne. "We are excited to continue to expand our automotive product offerings and technologies and look forward to working with Vari-Form to successfully execute our growth strategy."
Headquartered in Troy, Michigan, with production facilities in Strathroy, Ontario, Canada; Reynosa, Mexico; Kunshan (Shanghai), China; and Canton, Mississippi. Vari-Form originated the patented Pressure Sequence Hydroforming ("PSH") process for high volume tubular body structural components and assemblies. The PSH process uses relatively low water pressure (as compared with traditional hydroforming) to form a tube to the shape of a die cavity. This unrivaled technological expertise and proprietary PSH process provides substantial weight and cost savings. There has been significant capital investment in 20 hydroforming presses which produce over 7 million parts annually. Vari-Form is the industry leader and has produced more than 100 million parts to date. For more information, visit www.vari-form.com.
About Crowne Group, LLC
Crowne, headquarter in Cleveland, Ohio, is a leading manufacturer and distributor of both Aftermarket and OEM component parts for the automotive and other industrial equipment markets. Crowne serves numerous leading customers in both the Aftermarket and Original Equipment markets including mass retail, distributors, OEM and Tier 1 manufacturers. Crowne has a strong reputation in the industry and offers a diverse portfolio of products, including windshield wiper blades and components; OEM wiper systems; fuel pumps, systems and accessories; gas spring lift supports; injection molded plastic products; carbon and stainless steel tube components; and fabricated tube products for exhaust systems.
Since 2004, Crowne has successfully completed and integrated ten acquisitions. Crowne currently employs approximately 4,000 people and operates ten manufacturing facilities in North America and three additional international manufacturing / assembly facilities globally. For more information, visit www.crownegroupllc.com.