NOVI, MICH. (April 9, 1:45 p.m. ET) — Cooper-Standard Automotive Inc. announced last week that it has acquired Auburn Hills, Mich.-based EDC Automotive LLC.
Terms of the deal were not disclosed.
Novi-based Cooper-Standard sought the transaction to gain EDC's automotive thermal management intellectual property and patents, according to a news release.
Certain employees of EDC will transition to Cooper-Standard, but those employees have yet to be determined, said Chris Andrews, manager of corporate communications for Cooper-Standard. The supplier declined to report the number of employees expected to make the transition.
The acquisition marks the first move for the supplier of fluid and thermal management components since pulling itself off the M&A shelf last fall.
In October, the Cooper-Standard board of directors discontinued an evaluation for a potential sale because of market conditions.
Cooper-Standard reported net profit of $102.8 million on sales of $2.9 billion in 2011.