Minebea’s Acquisition of myonic Approved, Completed
myonic Acquisition Update :: Wednesday March 11, 2009
Present at the myonic signing ceremony were company representatives (from left to right): Reina M. MacDonald, Vice President & General Counsel, NMB (USA) Inc.; Dan Lemieux, Director of Strategic Planning & Corporate Development, NMB (USA) Inc.; Mr. Masayoshi Yamanaka, Director and Managing Executive Officer, Minebea Co., Ltd.; Bernhard Boeck, Managing Director, myonic Holding GmbH; Mr. Takayuki Yamagishi, Representative Director, President and CEO, Minebea Co., Ltd.; Walter Heilmann, Managing Director, myonic Holding GmbH; Mr. Daishiro Konomi, General Manager of Regional Affairs for Europe, Minebea Co., Ltd.; Gary C. Yomantas, President, NMB (USA) Inc. and New Hampshire Ball Bearings, Inc. |
Wednesday, March 11, 2009-- myonic officially became a Minebea Group company on March 5, 2009, approximately one week after the German Federal Cartel Office approved the purchase of myonic GmbH by Minebea Co., Ltd.
Last month, Minebea Co., Ltd. and myonic Holding GmbH agreed to the terms of a business combination, whereby Minebea would acquire the stock of myonic Holding GmbH, a ball bearing manufacturer with headquarters in Leutkirch, Germany, a manufacturing center in the Czech Republic, and sales operations in Europe and the United States.
In Europe, myonic GmbH will be integrated into Minebea as an independent company operated by New Hampshire Ball Bearings, Inc. In the States, myonic’s U.S. business unit will become a division of NHBB and operate under the name myonic USA.
“NHBB is committed to upholding the trust customers place in the myonic brand and to maintaining and expanding myonic’s presence here in the United States,” said NHBB’s Vice President of Sales and Marketing, Jack Langridge. “Customers will enjoy continued access to the same great products manufactured by myonic GmbH in Europe and sold here under the myonic name. More importantly, myonic’s customers should expect to receive the same high level of service to which they have become accustomed.”
NHBB plans to move myonic’s U.S. operation to Chatsworth, CA, the location of NHBB’s Precision Division and Corporate Headquarters. The move will take place by March 23, 2009. In the interim, customers shall continue working with Shannon Heard and Wayne Vanderneut in Ringwood, NJ. “Their continued presence should make for a smooth transition with no disruption in service,” said Jack.
myonic Acquisition- Initial Report :: Febaruary 5, 2009
Minebea Co., Ltd. Agrees to Acquire myonic Holding GmbH
Company leaders from NHBB, NMB (USA), Minebea and myonic were present for the signing of the purchase agreement between Minebea Co., Ltd. and myonic Holding GmbH. The executives involved in the transaction were (seated from left to right): Olivier Weddrien, Managing Director, DZ Equity Partner GmbH; Mr. Takayuki Yamagishi, Representative Director, President and CEO, Minebea Co., Ltd.; Joachim Hug, Managing Partner, Süd Private Equity GmbH & Co. KGaA; Bernhard Boeck, Managing Director, myonic Holding GmbH; Walter Heilmann, Managing Director, myonic Holding GmbH. |
February 5, 2009-- Minebea Co., Ltd. and myonic Holding GmbH have agreed to the terms of a business combination, whereby Minebea Co., Ltd. will acquire the stock of myonic Holding GmbH, a ball bearing manufacturer with headquarters in Leutkirch, Germany. In addition to its manufacturing headquarters in Germany, myonic has an assembly plant in the Czech Republic, and sales operations in Europe as well as the United States.
With this acquisition, Minebea adds a critical dimension to its core business as the world’s leading producer of miniature bearings. myonic has captured a key market segment with its high precision bearing technology focusing on critical applications in the medical and dental markets with particular success in complex bearing-related assemblies. With myonic, a market leader in Europe, and New Hampshire Ball Bearings (“NHBB”) in North America, the Minebea Group of companies will continue to emphasize growth in special bearings, larger size ball and roller bearings for the medical, dental, and aerospace markets along with its high volume, fully automated bearing production in Southeast Asia. Strategically, the addition of myonic creates a significant global presence in the specialty bearing market serving the dental and medical industries. In addition, this acquisition will provide a European manufacturing presence to expand Minebea’s aerospace bearing business in that part of the world.
Minebea plans to have its NHBB business unit take operational control of myonic while financial consolidation will take place in Japan.
Many of the products produced at the Leutkirch facility are complementary in nature to those manufactured at NHBB’s Precision Division which will now offer the total customer base a broader line of products for the medical, dental, aerospace, and industrial markets. Products include miniature & instrument bearings in both inch and metric series, thinex and torque tube bearings, airframe bearings, aircraft instrument bearings, thrust bearings, X-Ray tube bearings, next up assemblies, and mid-size bearings.
The terms of the transaction include Minebea’s acquisition of the stock of myonic Holding GmbH, myonic GmbH, myonic s.r.o., and myonic U.K. In addition, Minebea will acquire certain assets of myonic Inc. in the United States under a separate Asset Purchase Agreement.
The closing is subject to anti-trust approval by the German Federal Cartel Office.
New Hampshire Ball Bearings, Inc. (NHBB) is a leading domestic manufacturer of precision bearings and assemblies for the aerospace, defense, medical/dental, and high technology markets. Based in Chatsworth, CA, NHBB operates three manufacturing facilities in the United States and employs more than 1,300 people. The company was founded in Peterborough, NH in 1946 and later purchased by Minebea in 1985. NHBB operates under NMB (USA), Inc., the North American headquarters of the Minebea Group of companies. Other subsidiaries of NMB (USA) include NMB Technologies Corporation, Chatsworth, CA, and Hansen Corporation, Princeton, IN.
For more information, please contact Dan Lemieux, Director of Strategic Planning and Corporate Development, NMB (USA), Inc. 860/563-4460, dlemieux@nmbusa.com.
www.minebea.jp.co/english
www.myonic.com
For information about the news release, please contact:
Hans Baker, Marketing Coordinator
NHBB, 175 Jaffrey Road, Peterborough, NH 03458
603.924.4100 x5405, hbaker@nhbb.com