SPX sells diagnostic line to Bosch
Auto dealers can expect a broader array of repair-bay diagnostics and services from Bosch Group after the German company said last week it would purchase SPX Service Solutions.
Both companies produce diagnostic equipment that locates electrical and mechanical problems throughout vehicles.
Bosch and SPX sell the equipment and services to auto dealers and independent repair shops, said Chandra Lewis, a spokeswoman for Bosch's U.S. subsidiary, Robert Bosch.
Bosch agreed to pay cash for the SPX unit in a deal valued at $1.15 billion. The purchase is expected to be completed in the first half of the year, subject to approval by regulators.
The SPX diagnostic unit is especially strong in North America, with $500 million of its $920 million in sales in 2011 coming from the Americas, Lewis said.
Bosch has its biggest presence in diagnostic tools and services in Europe, though both Bosch and SPX sell their products globally, she said.
Bosch markets its equipment under the Bosch brand. SPX sells its equipment predominantly under the SPX brand to factory dealers while it uses a variety of brand names when selling to the independents, including OTC, Robinair and Actron.
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