COLMAR, Penn., Oct. 27, 2017 (GLOBE NEWSWIRE) -- Dorman Products, Inc. (NASDAQ:DORM), a leading supplier in the automotive aftermarket, announced today that it has closed on the acquisition of MAS Automotive Distribution Inc. (MAS Industries), a premium chassis parts and control arm company.
For 20 years, MAS Industries has designed, engineered, and produced premium quality chassis, steering, suspension and alignment components for the Automotive Aftermarket throughout the U.S., Canada, and Mexico. MAS Industries, which is headquartered in Montreal, Canada, is an established leader in best-in-class product innovation, chassis development, extensive coverage and innovative cataloging.
“The acquisition of MAS Industries reflects Dorman’s commitment to Aftermarket leadership in the chassis and suspension categories. I am excited for the future opportunities presented by this new partnership as Dorman will now offer customers the most comprehensive chassis offering in today’s Aftermarket. Dorman’s full-line of Premium Chassis and Control Arms will be perfectly complemented by the addition of MAS Industries’ chassis and control arms coverage of premium, value and fleet full-line programs for all makes. We look forward to meeting with all of MAS Industries’ customers next week at AWDA and AAPEX in Las Vegas.” said Matt Barton, President and Chief Executive Officer.
MAS Industries is expected to generate approximately $40 million of net sales for the twelve months ended December 30, 2017.
Dorman Products, Inc. is a leading supplier of Dealer “Exclusive” replacement parts to the Automotive, Medium and Heavy Duty Aftermarkets. Dorman products are marketed under the Dorman®, OE Solutions™, HELP!®, AutoGrade™, First Stop™, Conduct‑Tite®, TECHoice™, Dorman® Hybrid Drive Batteries and Dorman HD Solutions™ brand names.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to the Company’s future growth rates. Words such as “believe,” “demonstrate,” “expect,” “estimate,” “forecast,” “anticipate,” “should” and “likely” and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, competition in the automotive aftermarket industry, concentration of the Company’s sales and accounts receivable among a small number of customers, the impact of consolidation in the automotive aftermarket industry, foreign currency fluctuations, , imposition of new taxes or duties, and other risks detailed in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2016. The Company is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.
Contact: Kevin Olsen, CFO, kolsen@dormanproducts.com, (215) 997-1800. Visit our website at www.dormanproducts.com