Add-on Acquisition • Automotive

First Brands Acquires CARDONE Industries

On August 1, 2023, First Brands acquired automotive company CARDONE Industries

Acquisition Context
  • This is First Brands’ 5th transaction in the Automotive sector.
  • This is First Brands’ 5th transaction in the United States.
  • This is First Brands’ 1st transaction in Pennsylvania.

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M&A Deal Summary

Date August 1, 2023
Target CARDONE Industries
Sector Automotive
Buyer(s) First Brands
Deal Type Add-on Acquisition

Target Company

CARDONE Industries

Philadelphia, Pennsylvania, United States
CARDONE Industries is a manufacturer and supplier of automotive replacement parts such as brakes, fuel systems, motors and pumps for cars and trucks. CARDONE Industries was established in 1970 and is based in Philadelphia, Pennsylvania.
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Buyer Overview 1

Buyer

First Brands

Rochester, Michigan, United States

Category Company
Sector Automotive
DESCRIPTION

First Brands is a global automotive parts company that develops, markets, and sells premium products through a portfolio of market-leading brands including: Raybestos complete brake solutions, Centric Parts replacement brake components, FRAM filtration products, Luber-finer® filtration products, TRICO wiper blades, ANCO wiper blades, Carter fuel and water pumps, Autolite spark plugs, StrongArm lift supports, and StopTech performance brakes. First Brands is based in Rochester, Michigan.


Deal Context for Buyer #
Overall 5 of 7
Sector: Automotive 5 of 6
Type: Add-on Acquisition 5 of 7
State: Pennsylvania 1 of 1
Country: United States 5 of 7
Year: 2023 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-03 Horizon Global

Plymouth, Michigan, United States

Horizon Global is a designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products on a global basis, serving the automotive aftermarket, retail and OE channels. Horizon Global was founded in 2015 is based in Plymouth, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-01 Peterson Spring

Three Rivers, Michigan, United States

Peterson Spring is a designer and manufacturer of highly engineered springs, wire forms, related components, and sub-assemblies. Peterson Spring was founded in 1914 and is based in Three Rivers, Michigan.

Buy -