Neapco® Company Information
Neapco News
Neapco Senior Management Acquires Company from UCI
POTTSTOWN, P A, June 30, 2006 - Neapco announced today that its senior management and a small private group of investors had acquired the company from its parent, United Components, Inc. (UCI) in an asset purchase transaction. The transaction closed on June 30, 2006 and the company will operate as
Neapco LLC.
According to Neapco President and CEO, Robert Hawkey, the buy-out allows the company to concentrate its focus on its core businesses, drivetrain technology for the aftermarket and original equipment manufacturers. "Operating independently will give us the ability to better execute our plan to move the company forward. We see this move as an opportunity to continue our strong customer commitment and focus on innovation, speed to market and flexibility. In the end, this will position Neapco even more competitively in the market," said Hawkey.
"The buy-out will not affect the daily operation of the company. Neapco will continue to offer its current product lines and there will be no disruption in the shipment of products to our customers and we will continue the supply of high quality Neapco products to the marketplace."
The senior management team leading the buy-out includes Hawkey, John Lion - Vice President of Finance and Human Relations, J. Robert Mangini - Executive VP of Manufacturing and Distribution, and Keith Sanford - Executive VP of Sales and Engineering.
Headquartered in Pottstown, Pennsylvania, Neapco also has facilities in Beatrice, Nebraska, Ontario,
California and Mexico. Its 525 employees provide customers with innovative drivetrain solutions through
world-class product development, state of the art manufacturing and machining methods, and global procurement, design, and sales networks that support both aftermarket
and OEM customers.