SOUTHFIELD, Mich. – Prestolite Wire Corp. has agreed to acquire substantially all of the assets and business of Mr. Gasket, Inc., the parent company for Mallory Marine, the two companies reported in a joint announcement.
Mr. Gasket will become a division of Prestolite and will continue to operate the entire Mr. Gasket family of high performance and racing brands, according to the companies. Dennis Rogers will continue in his role as executive vice president of Mr. Gasket. Bob Romanelli, president of Mr. Gasket, will continue to advise the company on strategic initiatives. Terms of the acquisition were not disclosed.
“Mr. Gasket is an excellent strategic fit and a logical step in the continued growth and development of our automotive aftermarket business,” said Greg Ulewicz, president of Prestolite. “Mr. Gasket’s well-recognized high performance racing and marine brands will be a tremendous asset to Prestolite’s aftermarket portfolio.”
Rogers added, “We are very pleased to join forces with Prestolite. The combination of the two businesses provides Mr. Gasket with the resources to expand our automotive, motorcycle and marine product portfolios to better serve our customers.”
Prestolite is a manufacturer of ignition assemblies including ignition wire sets and COP components for the OEM and aftermarket. Additionally, the company manufactures wire and cable products and custom wire harness assemblies for automotive and industrial markets.
Mr. Gasket is a designer, manufacturer and distributor of specialty racing, performance and appearance products for the automotive, motorcycle and marine aftermarkets. Mr. Gasket markets its products under several brands including Mallory Marine, a full line of marine engine and drive parts and marine lubricants.
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