Mergers and acquisitions
Rhenus Automotive acquires Oakley Industries Subassembly Division
Logistics service provider Rhenus Automotive has announced the acquisition of tyre and wheel assembly provider Oakley Industries Subassembly Division as it looks to strengthen its presence in North America.
Since 1984, Oakley Industries Sub Assembly Division has provided tyre and wheel assemblies – as well as the just-in-time (JIT) and just-in-sequence (JIS) delivery of complete wheel sets – for OEMs, its first contract being supplying sequence tyre and wheel assemblies to two plants for GM Pontiac Motors.
Today, Oakley has eight sites across the US and Canada, located in Michigan, Ohio, Illinois and Ontario, which will now be absorbed into Rhenus Automotive's existing network. Employing around 300 people, Oakley serves four OEM customers and supports more than 10 projects using "highly automated processes and robust JIT and JIS concepts".
“The acquisition of Oakley Industries is a targeted strategic step that expands our value creation capabilities and reinforces our position as a sustainable premium assembly and logistics partner to the automotive industry,” explained Dr Marcus Ewig, CEO of Rhenus Automotive and Rhenus Group board member.
Rhenus Automotive intends to use the integration of Oakley’s assembly and sequencing services to expand its capabilities within automotive production and offer its OEM customers additional opportunities to outsource complex production steps.
“Oakley Industries is an ideal addition to our service portfolio," added Thomas Bernhardt, COO of Rhenus Automotive. "The acquisition enables us to further expand our integrated one-stop-shop solutions across logistics and modular assembly services, now also including specialised tyre and wheel assembly."
Rhenus Automotive has confirmed that following the acquisition, both current managing directors of Oakley Industries, Slater Hawes and Matt Sortor, will continue in their operational leadership roles.
“Rhenus Automotive is a global organisation recognised for its growth mindset and commitment to service excellence. Joining Rhenus opens new opportunities, and we look forward to contributing our expertise to drive our shared success,” commented Sortor.
