AMA Group has agreed to sell its FluidDrive business to a third-party purchaser incorporated as Fluiddrive Pty Ltd for $2.45 million.
According to AMA, the divestment completes the previously announced strategy in 2020 to focus AMA Group on being a collision repair and associated parts and consumables business. It follows the sale of AMA Group’s ACAD business (excluding ACM Auto Parts and FluidDrive) in the second quarter of financial year 2020.
The transaction is expected to be completed by 31 October, subject to typical closing conditions.
“The sale of FluidDrive ensures a pure focus for our Supply business unit on the previously communicated strategy for the supply of genuine, reclaimed and aftermarket parts and collision repair consumables,” said AMA Group CEO Carl Bizon. “We wish the FluidDrive team well for the future under their new ownership and acknowledge their contribution to AMA Group.”
FluidDrive is a leading service business in the remanufactured automotive transmission market.