Motorcar Parts of America, Inc. announced it has acquired Dixie Electric, based in Concord, Ont., Canada., in a stock purchase transaction. Terms were not disclosed.
“The acquisition of Dixie Electric, Ltd., founded in 1968, adds growth with a solid customer base, innovative products, enhanced heavy-duty expertise and a dedicated team of professionals,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
“We look forward to benefiting from Motorcar Parts of America’s market leadership within the rotating electrical market, as well as its strong financial position to further enhance Dixie’s strategic growth initiatives, product development and customer-service programs,” said Angelo Bucciol, president and founder of Dixie Electric, Ltd.
Peter Murnen, a veteran of the aftermarket industry and most recently vice president of marketing for Motorcar Parts of America based in the corporate office in California, will relocate to Ontario, Canada to serve as chief operating officer.
“Dixie’s heavy-duty manufacturing strength and footprint, with distribution locations in Canada and the United States — in addition to a manufacturing presence in India, offers significant opportunities for growth, and I look forward to joining the team,” said Pete Murnen.
He noted that Dixie operates within the industrial, agricultural, construction, transportation and mining segments – serving both OE and aftermarket customers.
Additional information is available at www.motorcarparts.com.