BALLART, Australia – The FMP Group (Australia) Pty Ltd – which sells products under the Bendix Brakes brand — has been offered for sale by its owners, partnership of a Bosch subsidiary (Pacifica Group) and Garrett Advancing Motion, according to a variety of media reports in Australia.
Macquarie Capital has been retained to facilitate the sale of the company which was founded in 1955.
The plan is to sell the entire brake manufacturer, which is reported to have annual sales of $30 million (Australian). The company produces brake pads, rotors, brake shoes, brake-hose kits and electric-brake controllers.
Originally established to supply the nascent Australian automotive industry, Bendix Brakes is essentially an aftermarket brand today.
Further reports indicate a price tag of approximately $300 million is within reach using the 10-times earnings multiple.
There is no reports on how close to fruition the sales process has progressed.