If you fail, try, try again.
That’s what Torrance-based Motorcar Parts of America Inc. is doing with its announced acquisition of OE Plus Ltd., a remanufacturer of alternators and starters based in North Dighton, Mass.
Financial terms of the deal were not disclosed.
Both Motorcar Parts, which makes and remakes parts for vehicles, including alternators and starters, and OE Plus serve the automotive aftermarket industry. Selwyn Joffe, Motorcar Parts’ chief executive, said in a statement that the acquisition was part of a strategy to gain market share.
“OE Plus has strong brand recognition within the professional installer market and we look forward to growing the business,” he said in the statement.
The OE Plus deal comes two years after Motorcar Parts broke off its Fenwick Automotive Products Ltd. unit. Also known as Fenco, Motorcar Parts bought the Toronto-based parts maker in 2011 for more than $5 million in stock. Fenco, which had a division in Torrance and made and sold parts such as brake calipers and clutches, filed for Chapter 7 bankruptcy liquidation in 2013 along with its affiliates.
Motorcar Parts took an $84.7 million write-off for the failed transaction and reported a substantial loss for that reporting period, but got $30 million in tax benefits for breaking off the money-losing divisions.
Bakery Moving
La Brea Bakery Café, founded in Los Angeles in 1989 but now owned by global food business Aryzta AG of Zurich, closed its La Mirada bakery in early May and laid off more than 130 workers.
“We’re moving operations to more efficient locations throughout our growing bakery network in North America; this helps us better serve our customers,” said Tina Burton, an Aryzta spokeswoman.
The company will continue to lease the facility, at 16932 Valley View Ave., in case it decides to restart production, she said.
Earlier this year, the bakery completed an $80 million expansion of its Van Nuys plant, adding 66,000 square feet and a 130,000-square-foot baking facility. As part of the expansion, La Brea Bakery Café brought in 115 additional workers in Van Nuys, bringing total employment to 343. Workers at the La Mirada facility will not be transferred to the expanded Van Nuys plant.
Through its 2001 purchase of La Brea Bakery Café, Aryzta has a heavy footprint in North America’s artisan bread and premium bakery segments. Its Food North America division operates 29 bakeries and kitchens.
Shining brighter
Power generator sales and rental services provider Collicutt Energy Services Inc.’s U.S. headquarters in Santa Fe Springs is shining a little brighter after its recent purchase of $1.5 million worth of new megapowerful backup generators and generator-testing equipment that will enable it to serve larger customers.
The company bought three 1,000 kilowatt, two 500 kilowatt generators and one 36 kilowatt generators, and two 2,500 kilowatt load banks used to test generators. All are diesel powered, said Steve Campbell, director of Collicutt’s rental business segment.
“Emissions are becoming a lot more stringent in California,” Campbell said. “We’re moving away from older engine technology and moving toward newer technology, which has a cleaner footprint.”
The purchase will also update Collicutt’s old smaller backup generators with new more powerful ones, which means the company can rent its generators to large hospitals such as Kaiser Permanente; utility companies, including Southern California Edison; and even cities when there’s a power outage.
“Rather than buying generators that can supply a 7-Eleven, we’re buying generators that can power a Wal-Mart,” Campbell said.
Staff reporter Carol Lawrence can be reached at [email protected] or (323) 549-5225, ext. 237.
