Fuel Systems

Fuel Systems

Location: Grand Rapids, MI
Phone: (616) 735-0300
Status: Exited in 2008
Fuel Systems Fuel Systems Fuel Systems

Fuel Systems, Inc. headquartered in Grand Rapids, Michigan, is the leading North American supplier of fuel tanks for a wide variety of commercial vehicles ranging from light, medium and heavy duty trucks to other industrial and off-highway applications. The Company manufactures fuel tanks at four domestic manufacturing facilities located in Springfield, Ohi; Charlotte, North Carolina; Wytheville, Virginia; and Chicago, Illinois. Each of the manufacturing facilities is located adjacent, or in close proximity to, the Company’s key original equipment manufacturers customers. Products produced by the Company include cylindrical, rectangular, and “D” shaped tanks made with steel or aluminum. The Company’s tanks have capacities ranging from 25 to 150 gallons and have polished, etched, or painted finishes. The Company’s key customers include light, medium, and heavy duty truck manufacturers.

Background to the Transaction

Fuel Systems, whose predecessor companies were founded in 1939, was the leading independent manufacturer of steel and aluminum fuel tanks to commercial truck manufacturers. In 2005, the company’s ownership group initiated a process to sell the business after having executed on its investment strategy to reduce the Company's fixed cost base by consolidating several manufacturing facilities. Through the consolidation process Brazos and management partner Ron Cucuz, an experienced operating executive with significant industry experience, was introduced to the opportunity. Ron Cucuz formerly served as Chairman and CEO of Hayes Lemmerz International, a $2 billion component manufacturer to the light truck and automotive industry, and led the business through a growth period resultilng in average annualized revenue and EBITDA growth of 40 and 48 percent, respectively. After significant due diligence, Brazos and Ron Cucuz acquired Fuel Systems in January 2006.