Continental acquires automotive aftermarket belt business of CRP Industries
Continental has acquired the assets and business of CRP Industries’ Continental-related belt and belt kits program. As a result, the technology company has brought all of its Continental-branded aftermarket belt products under its North American business. The acquisition specifically comprises import and domestic Continental-branded multi-v belts, accessory drive kits, v-belts, timing belts, Pro Series kits, Pro Series Plus kits and Black Series kits. CRP Industries will continue its strong presence in the aftermarket selling other non-Continental brands that include Rein Automotive parts, Pentosin technical fluids, Ajusa gaskets, and AAE Steering products.
“We are excited to bring all Continental products sold in North America under our own North American aftermarket business. In addition to continue providing our strong all-makes program, this integration will help us to be one of the leading providers in the import market,” said Rolf Sudmann, who is heading the global automotive aftermarket belt business within Continental. “This will bring clarity to branding for both Continental’s and CRP’s customer. Combining the strengths of each business, we will ensure each of our customers will be provided a one-stop shopping experience.”
“Continental has been a valued partner for more than 65 years, and a mutual respect and collaboration has been the foundation of our relationship during that time,” said Dan Schildge, CEO, CRP Industries. “We are proud to have built the Continental brand in the market. This transaction brings alignment to the Continental product lines while allowing CRP to focus on further defining our brand and product offering around solving the advancing technology challenges faced by todays repair technicians. We believe it is in the best interest of our customers, and we will do everything in our power to ensure that the transition will run smoothly.”
In support of the customer first mindset, both Continental and CRP emphasized that the collaborative transition will be gradual to enable customers on both sides to become accustomed to the new arrangement of products and services. Financial terms of the acquisition were not disclosed.
About CRP Industries
CRP is one of North America’s leading suppliers to the automotive and industrial service markets, providing the top professionals in North America with the quality components and innovative solutions they need to do their job. The company provides some of the most recognized brand names in the NAFTA market, including, Rein Automotive parts, AAE steering products, Pentosin technical fluids, AJUSA engine parts, Reinflex high-pressure thermoplastic hose, and Perske high-speed motors. CRP Industries Inc. operates key office facilities and distribution centers throughout North America. As a third generation, veteran-owned family business, CRP is proud of their reputation for delivering Quality, Service, and Trust.
About Continental
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent, and affordable solutions for vehicles, machines, traffic and transportation. In 2018, Continental generated sales of €44.4 billion and currently employs more than 244,000 people in 60 countries and markets.
Drawing on more than 120 years of cooperation with vehicle manufacturers, Continental offers a broad range of spare parts in OEM quality for the aftermarket. Under brands like Continental, Uniroyal, Semperit, ATE, VDO and GALFER, the technology company manufactures tens of thousands of products, including tires, brakes, drive components and thermal management components. It also provides diagnostic solutions, tools and services for repair shops. Continental is one of the most important suppliers in the independent automotive aftermarket.
