DANA acquired Magnum Gaskets (aftermarket distribution business), a transaction completed in January 2016, structured as all cash. The deal was a Asset purchase.
Magnum Gaskets (aftermarket distribution business) operates in Power Technologies, is based in United States. Aftermarket distribution business of Magnum Gaskets, giving Dana access to new customers for sealing products and an additional aftermarket sales channel for its Spicer, Victor Reinz, Glaser and other sealing brands. The deal closed in January 2016; Dana later recorded a full goodwill impairment of $6 million on the acquired business in 2019.
In January 2016, we completed the acquisition of Magnum Gaskets' aftermarket distribution business, providing us access to new customers for sealing products and an additional aftermarket channel for other products.
Expanded Dana's aftermarket sealing distribution footprint and added a new aftermarket channel. Power Technologies operating segment
In January 2016, we completed the acquisition of Magnum Gaskets' aftermarket distribution business, providing us access to new customers for sealing products and an additional aftermarket channel for other products.Dana FY17 10-K, Item 1 Business note
Advisory firms were not disclosed for this transaction.