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The eBearing News
December 9, 2004
ACL Group Puts Itself On the Market
copyright © 2004 eBearing Inc.
ACL Group (Automotive Components Ltd., Australia), in what it calls a "Review of Strategic Options" to best
benefit shareholders, has essentially put the entire company up for sale, inviting offers for the whole
or specific operating divisions.
ACL Group, now a key supplier of engine bearings worldwide, was formed in 1986 to facilitate
the management buyout of ACL Bearing Company, ACL Gasket Company,
and ACL Comcork, the manufacturing operations of Repco Corporation.
Sales of $74 million in 1987 hit $206 million in 2003, recording EBITDA of $18 million. The company
now has over 900 employees.
Since 1986, ACL Group has acquired other companies, including Repco Glacier Bearings NZ,
Vandervell America, Nilsens Sintered Products, Federal Mogul Australia,
and six others. ACL Group bought and later sold off three operations, including Bimetal Bearings India.
In 2002, ACL acquired CarParts and the 166-store AutoPro retail chain from Repco for $36.9 million. But ACL
has come back and demanded $12 million in damages from Repco, claiming the information used to value
the CarParts operation was false and misleading.
ACL has a tight-knit ownership group, consisting of the nine members of its original 1986 management
buyout syndicate, and a trust representing over 160 employees and former employees.
The company said a number of this ownership group have now retired, prompting it to begin, "exploring
the avenues to permit retired members to realise their investment and at the same time fund the future
growth of the business." The need was made more evident by recent approaches from outside investment groups,
wanting to invest directly in ACL, either by acquisition or equity participation.
ACL is Australia's largest manufacturer of engine bearings and gaskets. The entire product line is sold
in Australia and many other key worldwide markets, including Asia and North America.
The ACL Bearing Company division, headquartered in Tasmania, manufactures over 1,100 OEM and replacement
engine bearings, primarily for automotive applications. ACL Bearing also produces powder metal parts for
automotive, white goods, and other engineering applications.
ACL Bearing is vertically integrated, manufacturing the steel-backed lead and tin base babbitt (whitemetal)
aluminum base and copper base strip bearing materials, on continuous and semicontinuous lines.
Their own strip is used for most bearing, bushing and washer production. ACL's strip is also
sold to other bearing manufacturers.
OEM customers for engine bearings and bushings include Ford of Australia, Holdens Engine Company,
Mitsubishi Australia, and Toyota Australia. The company also sells bearings to the Tier 2 engine market,
and engine rebuilders in Australia and 55 other countries.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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