Old World Industries LLC, the maker of Antifreeze Coolant and Motor Oil, is buying the automotive lighting business of Eiko Global LLC in a deal with undisclosed terms.
Eiko’s automotive products include headlights and miniature lamps. Old World will start selling the products immediately while keeping Eiko’s management team.
Buyers have been attracted to automotive aftermarket manufacturers recently as global car sales are on the rise.
Some recent deals include: Lexington, Massachusetts-based Watermill Group announced the purchase of Metalcraft Inc., a Livonia, Michigan-based maker of metal parts for vehicles, and Chicago-based LKQ Corp. (Nasdaq: LKQ) is buying replacement parts distributor Coast Distribution System Inc. (NYSE: CRV) of Morgan Hill, California for $29 million.
Angle Advisors LLC is advising Eiko.