Industry sources have reported that Trico Group has entered into an agreement to acquire FRAM Group Holdings, whose brands include FRAM filters and Autolite spark plugs, from The Rank Group.
In January, Trico Group also acquired UCI’s Performance Pump business, comprising the ASC and Airtex business.
While neither private organization has provided details on the FRAM Group acquisition, industry insiders have been communicating the impending transaction since early to mid-February.
Ratings agencies have certainly been commenting on the agreement for the acquisition as early as February 6, 2019 and reporting fairly consistently that the debt-funded acquisition includes a number of elements totaling approximately $365 million USD.
Trico Group is the still relatively new name in the aftermarket for private Crowne Group, which acquired the Trico business in 2014. Prior to the recently announced acquisitions, Trico Group brands included the Trico wiper brand, Carter fuel systems, and Strongarm lift supports.
The addition of FRAM, Autolite, Airtex and ASC significantly increases the breadth of offering from Trico Group in the underhood category.