Dana has reached a definitive agreement to sell its Off-Highway business to Allison Transmission for $2.7 billion, the US-based supplier said in a press release on June 11. This deal is expected to close in the fourth quarter of 2025, pending customary regulatory approvals and closing conditions. The sale aligns with Dana's strategy to focus on being a supplier for on-highway light and commercial-vehicle customers, offering both traditional and electrified systems. After accounting for taxes,...

Toyota Motor is exploring the possibility of investing in a potential buyout of Toyota Industries, Reuters reported April 27. “We are currently exploring various possibilities, including partial investment,” the Japanese automaker confirmed in a regulatory filing with the Tokyo Stock Exchange on April 26. Meanwhile, a report from Bloomberg on April 25 said that Akio Toyoda, chairman of Toyota Motor, and his founding family have proposed to acquire Toyota Industries for ¥6 trillion (...

ABC Technologies has successfully completed the acquisition of TI Fluid Systems for an enterprise value exceeding £1.8 billion. The company has also decided to rebrand the combined business as TI Automotive, saying the new name aligns with both companies' legacies of outstanding engineering, employee dedication and customer service. The merger, first announced in November 2024, unites two companies that are highly complementary, establishing a more robust and diverse tier 1 manufacturer...

ABC Technologies announced that it has reached an agreement to acquire TI Fluid Systems for $1.32 billion. Under the terms of the transaction, shareholders of TI Fluid Systems will be entitled to receive 200 pence a share, valuing TI Fluid Systems at an enterprise value of approximately £1.8 billion. The acquisition is expected to be complete in the first half of 2025, subject to shareholder and other relevant legal and regulatory approvals. TI Fluid Systems is a London-listed, market-lea...

Hankook & Co. Group signed share purchase agreements with Hahn & Co. for the acquisition of majority stake in automotive thermal management systems supplier Hanon Systems on Oct. 31. The acquisition was made through Hankook & Co. Group's core business, Hankook Tire & Technology. The acquisition is expected to complete by the end of 2024. Following the acquisition, Hankook & Co. Group will own a 54.77% stake in Hanon Systems. Earlier in May, Hankook Tire’s board of direct...

Autoneum has signed an agreement to acquire a 70% stake in Jiangsu Huanyu Group, a major supplier of automotive acoustic and thermal management solutions in mainland China. The acquisition is expected to significantly expand Autoneum’s presence in Asia and broaden its customer base to include several mainland Chinese automakers such as BYD, BAIC and GAC. The acquisition will be carried out in two phases. In the first phase, the acquisition of a 70% equity stake in the company for CHF 75 mil...

Milan-based supplier of air management, engine cooling and suspension systems Sogefi Group expects to close the sale of its Filtration business unit to the US private equity fund Pacific Avenue Capital Partners by the end of May, the company said May 6. Providing an update on the transaction, the company said that the sale and purchase agreement has already been agreed upon between both the parties and will be executed in the upcoming days. In a press note issued, Sogefi said that it has a...

Atar Capital has announced that Solero Technologies has signed an agreement to acquire Kendrion's automotive business in Europe and the US, in a press release dated April 15. The transaction, which is expected to close in the third quarter of 2024, is valued at about $70 million and includes trailing 12 months (TTM) EBITDA of approximately $24.1 million, representing approximately 80% of Kendrion's Automotive business. Solero Technologies will effectuate the transaction with support from Atar Ca...

Raymond Group has acquired a 59.25% stake in Maini Precision Products Ltd. (MPPL) for $81.9 million, Mint reported Nov. 3. The acquisition will diversify Raymond's business portfolio beyond its core fabric and realty segments and open up new opportunities in rapidly growing sectors such as electric vehicles (EVs). MPPL manufactures precision engineering products for aerospace, EV and defense sectors with 11 manufacturing facilities in India. As part of the deal, Raymond will consolidate its e...

Automotive suppliers Mahle and Hella have agreed to sell their respective 50% stake in the Behr-Hella Thermocontrol (BHTC) joint venture to AUO Corp., a Taiwan-based company specializing in display panel products and solutions. The press statement, dated October 2, stated that the sale is valued at an enterprise value of €600 million and is subject to approval by foreign trade and antitrust authorities. The parties have signed an agreement and expect the transaction to close by mid-2024. BHTC ...

US-based thermal-solutions provider Modine announced August 29 the sale of its facilities in Temecula, Calif., and Tampa, Fla., to Protecall. Both the facilities provide aftermarket application services in which heating, ventilating and air conditioning (HVAC) units are coated with anticorrosion protection. The sale process is likely to be executed by the end of September. Neil Brinker, president and CEO of Modine, said, "This sale continues the process we started in 2021 with the c...

German automotive supplier Mahle plans to sell its Thermostat business to the industrial and investment holding company Admetos. As part of the deal, Admetos will take over development and production with around 600 employees in six countries, a company press release dated August 18 said. In a strategic move, Mahle is focusing on electrification and systems for thermal management, as well as cost leadership, in components for highly efficient, green combustion engines. As part of this new dir...

Lear Corp. (Lear) has announced the completion of the acquisition of I.G. Bauerhin GmbH (IGB), according to a company press release April 26. The acquisition was initially announced in May 2022, when Lear had signed a definitive agreement to acquire IGB for €140 million on a cash and debt-free basis. “IGB is the final piece of Lear’s comprehensive strategy to develop and integrate its Thermal Comfort Systems for automotive seating. Lear is the most vertically integrated g...

Autoneum announced that it has completed the acquisition of the automotive business of Borgers, in a press release dated April 3. The agreement was initially announced in January 2023. Following the acquisition, Autoneum will operate 67 production facilities and employ around 16,100 people in 24 countries. Autoneum also announced its shareholders have approved the creation of a capital band to raise around CHF100 million for the long-term financing of the acquisition. “Borgers Automoti...

Michigan-based global supplier of powertrain technologies, BorgWarner, has announced its intention to execute a tax-free spinoff of its fuel systems and aftermarket segments into a separate, publicly traded company (“NewCo”), according to a press release dated 6 December. “The intended separation supports optimizing our combustion portfolio and advancing our electrification journey while NewCo would be able to pursue growth opportunities in alternative fuels, such as hydrogen, and in Af...

The owners of Germany’s Schaeffler Group, the Schaeffler family, has raised their stake in Continental’s former powertrain division Vitesco Technologies AG to just under 50%, MarketWatch reported on 4 July 2022, citing the family’s holding company IHO. According to the report, the Schaeffler family, which controls the automotive components supplier Schaeffler AG, has acquired around 1.6 million shares in Vitesco Technologies, bringing its shareholding to 39.99%, from 35.89% previou...

Indian automaker Tata Motors’ subsidiary Tata Passenger Electric Mobility Ltd (TPEML) has signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for acquiring the latter’s passenger vehicle manufacturing plant in Sanand, Gujarat, news publication Business Standard reported on 31 May 2022. It said that the acquisition of Ford’s manufacturing unit by Tata Motors would help the automaker expand capacity to make passenger cars as well...

Lear Corporation has announced via press release that it entered into a definitive agreement to acquire seating climate control specialist I.G. Bauerhin (IGB) for EUR140 million (USD147.49 million), according to a press release published by Lear Corporation on 20 May.   Lear President and CEO Ray Scott, said, “The acquisition of IGB furthers Lear’s vertical integration strategy and advances our vision of being the leading provider of innovative thermal comfort solutions. Combining Le...

Gentherm has announced via press release on 4 May it entered into a definitive purchase agreement to acquire automotive seating business of Alfmeier Präzision SE (Alfmeier) for EUR177.5 million (USD186.69 million). Gentherm expects to achieve around USD10 million in annual run-rate cost savings in addition to revenue synergies, press release added. Andreas Gebhardt, CEO of Alfmeier, said, “I am excited to see the combination of two unique system design companies with integrated hardware...

Germany-based automotive components supplier, Benteler, has announced that it has signed an agreement with Fidelium Partners to sell two of its automotive plants located in Tønder, Denmark and Louviers, France. According to a press release issued by Benteler on 23 August, the company stated that this sale is a part of the implementation of its transformation program, which was initiated in 2018 with the objective of focusing on its core business as a metal processing specialist. The trans...

Italian automotive components supplier, Sogefi Group, has announced that it has completed the sale of its filtration business unit in Argentina to SA Eagle Holdings LLC. According to a press release issued by Sogefi on 2 August, the company stated that the asset consists of one production plant and the total consideration for the sale is approximately EUR5.9 million (USD7 million). The company’s Argentinian filtration operations generated revenues of EUR13.2 million and a net loss of EUR0.6...

Michigan-based automotive supplier of advanced thermal management systems, HDT Automotive Solutions LLC plans to acquire Germany’s Veritas AG, a supplier with expertise in elastomers, plastics, and metal for fluid, thermal and sealing management systems, HDT said in a press release on 23 June. The transaction, which is expected to be concluded by October-end, would consolidate HDT Automotive’s position as a supplier of fluid handling systems in the global auto parts supply chain. “Wh...

The European Commission (The Commission) has approved, under the EU Merger Regulation, the acquisition of Japan-based Sanden Holdings Corporation by Chinese Hisense Group Holdings Co. Ltd., The Commission said in a press release on 20 May 2021. Significance: Sanden manufactures and supplies climate control components and compressors constituting automotive air-conditioning systems, and climate control systems for construction and agricultural machinery. Hisense Group manufactures and sup...

Hanon Systems has announced it has completed the acquisition of condenser business from Keihin for certain operations in Europe and North America, according to a company press release dated 7 May. Financial details of the transaction were not disclosed. “This strategic acquisition expands our ability to supply automakers with condenser technology and further diversifies the customer base of Hanon Systems. Condensers continue to be an important heat exchanger technology in automotive thermal...

American thermal management technology and solutions provider, Modine Manufacturing Company, has announced that it has completed the sale of its Austrian air-cooled automotive business, including its manufacturing facility located at Kottingbrunn, Austria, to Schmid Metall GmbH, an affiliate of Rupert Fertinger GmbH. According to a press release issued by Modine on 3 May, this move represents a portion of the automotive segment and follows the earlier announced agreement to sell the liquid-co...

Trèves Group has completed the acquisition of a majority stake in ROI Technologies, and along with partner Kotobukiya Fronte, the acquisition of CTA Acoustics, it said in a company press release on 4 April. The financial details of the deals were undisclosed. Headquartered in Cazzano-San Andrea, Italy, ROI Technologies is the automotive acoustics division of Miro Radici Family of Companies and supplies interior trimming parts to Stellantis. CTA Acoustics, headquartered in Michigan, US, offer...

Igarshi Motors India announced that its board of directors approved the proposal for sale of entire investment of the company held in Bosch Electrical Drives India Private Limited (BEDIPL), according a filing with National Stock Exchange (NSE) on 10 March. The deal is expected to complete on or before 31 March 2021. The deal is valued at INR 33,70,049 (USD 46,494). Significance: The company has entered into a share purchase agreement for a 9.2% stake held in BEDIPL to the buyer Robert Bosch I...

Sanden Holdings Co., Ltd. signed a share underwriting agreement with Hisense Home Appliances Group Co., Ltd. at the board of directors meeting held on 1 March. According to a press release issued by Sanden Holdings on the same day, the company has resolved to issue new shares through a third-party allotment to a special purpose company to be established, with the total value of new shares issued standing at around JPY21.4 billion (approximately USD200.27 million). The company provides integra...

US-based thermal management technology and solutions provider, Modine Manufacturing Company, announced that it has agreed to sell a portion of the Company's European air-cooled automotive business, including its manufacturing facility located in Kottingbrunn, Austria. According to a press release issued by Modine on 19 February, the company stated that it has signed a definitive agreement with Schmid Metall GmbH, an affiliate of Rupert Fertinger GmbH, for this purpose. This announcement follo...

Germany-based automotive components and systems supplier, MAHLE, has announced that it has taken over the air-conditioning business in Japan, Thailand, and the US from the former Keihin Corporation (now Hitachi Astemo, Ltd.). According to a press release issued by MAHLE on 1 February, the acquisition came into effect on the same day. Four production sites and one development center in Asia and North America are now being integrated into the MAHLE Group. With this acquisition, MAHLE is st...

Sogefi has inked a binding agreement to sell its Brazilian Filtration business to SA Eagle Holdings, the company announced in a press release on 17 December 2020. Enterprise value for the transaction is estimated around EUR2.3 million (USD2.8 million). The company expects the transaction to close by the end of 2020. Significance: According to the company, Filtration Brazil has reported sales of around EUR27 million and a negative EBITDA contribution in 2020. The Brazilian Filtration business ...

Thermal management technology and solutions provider, Modine Manufacturing Company, has announced that it has signed a definitive agreement with Dana Incorporated to sell the liquid-cooled portion of its automotive business. According to a press release issued by Modine on 2 November, the company stated that this portion represents approximately 70% of its automotive business revenue. This transaction is another step in the plan announced earlier by Modine to exit its Automotive business, and...

Mahle has inked a purchase agreement to acquire Keihin Corporation’s air conditioning business in Japan, Thailand, and the United States, the former announced in a press release on 23 October 2020. The implementation of the agreement, which is expected in the first quarter of 2021, requires the approval of various antitrust authorities. “This is an important strategic step in our transformation, enabling us to continue to develop our global competitiveness in our future business areas ove...

German automotive components supplier, VOSS Automotive, has announced its acquisition of Henzel Automotive GmbH. According to a press release issued by the Voss Group on 19 October, this will complement the Group’s development and production competencies in the automotive thermal management sector. The acquisition is subject to the pending approval of the antitrust authorities. Henzel develops a range of products particularly for battery-electric vehicles (BEVs) including thermostats w...

Hitachi Automotive Systems has announced the completion of acquisition of Germany-based automotive device software developer seneos, a company press release on 16 April read. Financial details of the deal were not disclosed. seneos offers system engineering services for automotive electronics design, process management, and embedded system software development. The company employs 64 people and is based in Cologne. The acquisition will help Hitachi’s frontend engineering capabilities and im...

Infineon has announced that it has completed the acquisition of Cypress Semiconductor, according to a company press release on 16 April. The acquisition is funded through a combination of cash on hand and a financing facility given by a consortium of 20 national and international banks. Infineon expects the acquisition to be earnings accretive in fiscal year 2021. The profitability is expected to rise while capital intensity of the combined business will decrease, increasing free cash flow. T...

In a press release issued on 2 January, power management firm Eaton announced that it has completed the sale of its Automotive Fluid Conveyance Division. The buyer of this division was international investment firm Quantum Capital Partners. However, the terms of the sale agreement have not been disclosed. Significance: The company has revealed its plan to sell off this division in the beginning of the previous year. The Automotive Fluid Conveyance Division of Eaton was in ...

Honda has concluded a basic merger agreement with Hitachi Ltd to merge its three affiliated suppliers—Keihin Corporation, Showa Corporation and Nissin Kogyo Co Ltd—with Hitachi Automotive Systems to create a global mega supplier with consolidated sales of JPY1.7 trillion (USD15.6 billion), the two companies said in a joint press release on 30 October. Among the three affiliates, Keihin specialises in electrification systems for hybrid and electric vehicles, producing power control un...

Shanghai Aerospace Automobile Electromechanical Co. Ltd. announced on 9 September that its previously separate brands SDAAC and ERAE Automotive will now operate as a single brand named ESTRA. This is a direct result of the acquisition of majority shares by HT-SAAE of Korean firm ERAE Automotive. ESTRA will focus on providing automotive engine and powertrain cooling, as well as heating, ventilation, and air conditioning (HVAC) solutions. These include products such as HVAC modules, c...

MARELLI has announced plans to reorganize its production bases in Japan, the company said on 12 September. The planned move will result in the group’s company Calsonic Kansei Tochigi Corporation ceasing production at its Tochigi and Sano plants, both in Tochigi Prefecture, at the end of February 2020. The company’s Tochigi plant produces cockpit module parts and interior products and the Sano plant manufactures heat exchange and climate control systems. The two plants, operated by Calsonic K...

Calsonic Kansei and Magneti Marelli will officially change their respective legal company names to MARELLI from next month, the two companies said in a joint press release on 9 September.  While Calsonic Kansei Corporation will change its name to MARELLI Corporation, Magneti Marelli S.p.A will change its name to MARELLI Europe S.p.A. The two companies also plan to change the names of their major affiliate companies to MARELLI from next month. “This is an exciting step forward on our jo...

MARELLI has entered into a strategic partnership with China-based Shanghai Highly Group, the company said in a press release on 30 August. Under the partnership, MARELLI reached an equity transfer agreement with Johnson Control-Hitachi Air Conditioning (JCH) to acquire a stake in Shanghai Highly New Energy Technology (HNET), a joint venture between JCH and Highly Group. The JV, formed in 2016, supplies electric drive compressors (EDC) for hybrids and electric vehicles. In addition, MARELLI an...

Saint-Gobain has acquired Pritex, a provider of acoustic and thermal insulation solutions made from polymer-based composite materials, according to a company press release on 28 May. Pritex, based in the United Kingdom posted sales of approximately EUR20 million in 2018. The company has a strong presence in Europe. Significance: The acquisition will allow Saint-Gobain’s Mobility business unit to expand its business model beyond automotive glazing and become a provider of solutions in the mo...

Sumitomo Electric Industries has acquired Germany-based powdered metal components maker Sinterwerke Herne (SWH) and Switzerland-based Sinterwerke Grenchen (SWG), according to a company press release on 22 May. The Japanese supplier acquired 100% of shares of SWH and SWG from Sinterwerke Holding on 9 May. Significance: The company's Powder Metal Products Division operates globally, with Sumitomo Electric Sintered Alloy Ltd. as its mother plant, according to the press release. The division offe...

CK Holdings, the holding company of Calsonic Kansei, has completed the acquisition of Magneti Marelli from Fiat Chrysler Automobiles (FCA), the company announced in a press release on 2 May. The combined business will operate under the entity ‘Magneti Marelli CK Holdings Co., Ltd.’ The combined business will be led by Beda Bolzenius, currently CEO of Calsonic Kansei, based in Japan. Ermanno Ferrari, CEO of Magneti Marelli, will join the Magneti Marelli CK Holdings board. “We are delight...

Magna has completed the sale of its Fluid Pressure & Controls (FP&C) business to Hanon Systems, the company announced in a press release on 29 March. Hanon will take over 10 manufacturing and engineering facilities from Magna across Europe, North America, and Asia, and approximately 4,200 employees. Significance: Magna first announced the deal with Hanon Systems in September last year. At the time, it was announced that the deal has been valued at USD1.23 billion before the assum...

The European Commission (EC) has approved the acquisition of Magneti Marelli by the global investment firm KKR, the Commission said in a press release. The Commission examined the acquisition under the simplified merger review procedure and concluded that the proposed transaction would raise “no competition concern as the parties have a limited position in the markets where activities overlap.” Significance: In October 2018, Fiat Chrysler Automobile (FCA) reached a definitive agreeme...

Novares, through its Chinese subsidiary Noveastern, has gained complete ownership of a Chinese joint venture (JV) company by acquiring 30% stake of its JV partner Yazhong, according to a company press release on 30 January. Additionally, Novares has relocated its Wuhan production plant to a new, modern site equipped with the latest technology. The new plant houses production facilities and the Wuhan Technical Center. The site is one of the company’s most modern facilities, conforming to the...

Fiat Chrysler Automobiles (FCA) has entered a definitive agreement to sell Magneti Marelli to Calsonic Kansei, FCA and Calsonic Kansei said in a joint press release today (22 October). Under the agreement FCA will sell Magneti Marelli to CK Holdings, a holding company of Calsonic Kansei, which is owned by the global investment firm KKR. The acquisition represents a transaction value of EUR6.2 billion. The acquisition, subject to regulatory approvals and other customary closing conditions, i...

Grammer has completed the acquisition of US-based Toledo Molding & Die (TMD) after receiving regulatory approval from the relevant anti-trust authorities, the company announced in a press release on 2 October. “The acquisition of TMD marks an important component of our long-term strategy. We have found an ideal partner with whom we can enhance our expertise, extend our product range and strengthen our presence in the world’s second largest automotive market,” said Hartmut Müller, CEO ...

Hanon Systems has signed an agreement with Magna to acquire its global Fluid Pressure & Controls Business, the company announced in a press release on 20 September. The deal has been valued at USD1.23 billion before the assumption of net debt and pension liabilities at closing, and subject to customary closing adjustments for net working capital. Hanon will take over 10 manufacturing and engineering facilities from Magna across Europe, North America and Asia, and approximately 4,200 employee...

Renesas Electronics is in the advanced stage of talks to acquire Integrated Device Technology (IDT) in a deal that could value the US-based rival at around USD6 billion, Nikkei Asian Review reported on 31 August. The Japanese supplier has confirmed the talks and said it would make a prompt announcement if it makes any concrete decisions. “While Renesas is considering the reported acquisition to accelerate its business growth, no definitive decision has been reached,” the Japan-based company ...

Croatia-based supplier of plastic components AD Plastik has acquired Hungarian automotive supplier Tisza Automotive for an undisclosed amount, according to a press release by AD Plastik last month (26 July). Significance: The acquisition is part of AD Plastik’s business strategy and midterm development plan. The acquisition is expected to expand the Croatian company’s customer portfolio and support further growth. AD Plastik had said in July that it had won a series of European order...

Eberspächer has acquired a 20% stake in Germany-based PACE Telematics, a cloud-based automotive big data start-up, through capital investment, the company announced in a press release on 5 July. With the acquisition, Eberspächer aims to expand cloud-based mobility services for its products. The three founders of the PACEwill continue to hold their management roles as co-partners. “We are convinced that data-based services form a core element of the mobility of tomorrow and believe strongl...

US-based Dana has entered a joint venture (JV) partnership with Canada-based Hydro-Québec under which Dana has acquired a majority stake in the latter’s subsidiary TM4, the company announced in a press release on 22 June. Dana has acquired 55% stake in TM4 for CAD165 million (USD127 million); 45% of TM4 will be held by Hydro-Québec. Under the agreement, Dana will source electric motors, power inverters, and control systems from TM4. "We are excited to welcome TM4 into Dana's global family...

Grammer has signed a contract to acquire US-based Toledo Molding & Die (TMD) for around USD271 million, the German supplier said in a press release today (22 May). The company will fund the acquisition fully with debt. The acquisition is subject to regulatory approvals and other customary closing conditions. Grammer expects to conclude the acquisition by the third quarter of this year. TMD is a major supplier of thermoplastic components for the automotive industry, with strong presence in...

Cooper Standard has acquired a 80.1% stake in the automotive parts business of South Korean conglomerate LS Mtron, according to a company press release yesterday (14 May). Financial terms of the deal were not disclosed. "Our acquisition of LS Mtron's automotive parts business is another important step in our strategy as it expands our core product offerings, as well as our strategic footprint in Korea, China and Brazil," said Jeffrey Edwards, chairman and CEO of Cooper Standard. Significance:...

Plastic Omnium has agreed to acquire Mahle’s stake of 33.33% in the HBPO joint venture (JV), the two companies announced in separate press releases last week (1 March). The acquisition was made at an enterprise value of EUR350 million (USD427.5 million) and will be financed by the company's own resources. Subsequent to the transaction, Plastic Omnium will hold 66.66% in HBPO, with the remaining 33.33% held by Hella. The company will finance the acquisition through its own resources. Signifi...

News The key news and events shaping the automotive supply base in the last month E-Mobility How are tranmission manufacturers and the wider automotive industry preparing and positioning for impending rise in hybrid demand? Thermal Modest projected adoption by global OEMs is expected to limit the use of CO2 (R744) refrigerants toniche variants or options in the near term. Who-Supplies-Whom Details of suppliers to the new Buick Enclave. Includes a look at the C1XX platform an...

Shanghai Aerospace Automotive Electromechanical (HT-SAAE), through its wholly owned company Shanghai HT Holding Hong Kong, has acquired 51% share in erae Automotive System, the company announced in a press release on 31 January. The company informed that from next month, erae Automotive, China-based SDAAC Automotive and HT Hong Kong-owned Luxembourg Thermal Technical Center will become part of the HT-SAAE Global Thermal Business Unit. Additionally, HT-SAAE announced that it has appointed Reng...

Ford has acquired two companies, Autonomic and TransLoc, to expand its presence in future mobility services business, the US automaker said in a press release last week. Autonomic, a California (United States)-based start-up, is working on the first open cloud-based platform connecting future mobility systems. The acquisition is expected to accelerate Ford’s goal to set up a “Transportation Mobility Cloud”, an open-source platform for use by urban transportations. The US automaker also ...

Samvardhana Motherson International Limited (SAMIL), the principal holding company of the leading Indian automotive supplier Samvardhana Motherson Group (SMG), has acquired MS Global India (MSGI) from South Korea-based MS Group, reports Autocar Professional. MSGI produces sheet metal and frames for commercial vehicles. The company operates a production facility in India, located in Chennai, Tami Nadu. The two companies have not disclosed the financial details of the deal. Commenting on the ac...

Acquirer Acquired Business Sector Comment ArgoAI Princeton Lightwave Lidar ArgoAI has acquired Princeton Lightwave, a company specializing in Lidar solutions, to accelerate its autonomous vehicle development program. The acquired company, founded in 2003, as a spin-off from Sarnoff Corporation, has expertise in development and commercialization of Lidar, a key sensing technology used in self-driving cars. Chassix  Benteler Automotive...

Thermal management solution provider Gentherm has acquired electronics firm Etratech for USD64 million in an all-cash transaction, the company announced in a press release on 1 November. Based in Canada, Etratech specializes in the design, development, and manufacturing of advanced electronic controls and control systems for the Automotive and other industries. "We believe that growing our existing electronics capabilities is critical to our success in the broad spectrum of markets in which w...

Acquirer Acquired Business Sector Comment Autoliv  Fotonic i Norden, Lidar technology Autoliv has reached an agreement to acquire select assets of Fotonic i Norden, a Sweden-based company specializing in Lidar and Time of Flight camera. The acquisition will result in transfer of certain intellectual property rights, development and prototyping assets and development resources from Fotonic i Norden to Autoliv. In addition, about 35 engineering expert...

WABCO Holdings has completed the acquisition of Meritor’s stake in the Meritor WABCO joint venture (JV), the company announced in a press release yesterday (3 October). WABCO acquired Meritor’s stake in the JV for USD250 million. Meritor will continue to be WABCO’s exclusive distributor for a certain aftermarket products of WABCO in the United States and Canada, and its nonexclusive distributor in Mexico. With regards to the purchase transaction, both parties have the option to terminate t...

Norsk Hydro has completed acquisition of the remaining 50% stake in aluminum extrusion joint venture company Sapa from Orkla, according to a company press release on 2 October. The company said the agreed enterprise value for full ownership of Sapa is NOK27 billion (USD3.3 billion). Norsk Hydro paid a preliminary purchase price for the shares, adjusted for net debt and normalized working capital, of NOK11.86 billion in cash. Hydro said Sapa will be rebranded as ‘Extruded Solutions’ unit a...

Acquirer Acquired Business Sector Comment Adient  Futuris Group Seating Adient has signed a definitive agreement to acquire Futuris Group for approximately USD360 million. The company expects to complete the transaction, subject to various customary closing conditions, by the end of the current quarter (by 30 September).The US-headquartered Futuris Group, currently owned by affiliates of Clearlake Capital Group, is a major supplier of automotive sea...

WABCO is set to acquire full ownership of its joint venture (JV) with Meritor, named Meritor WABCO, the company announced in a press release on 18 September. WABCO has signed an agreement to buy Meritor’s stake in the JV for USD250 million. The deal is expected to complete by 1 October, prior to which Meritor will receive a final closing partnership distribution. Meritor will continue to provide sales, service and training to Meritor WABCO customers through its DriveForce team for up to two ye...

ZF has inked an agreement to sell its ‘Global Body Control Systems’ division, including the ‘Radio Frequency Electronics’ business to Hong Kong-based Luxshare, the German auto parts supplier announced in a press release yesterday (30 August). The company did not provide financial details of the transaction. Subsequent to the acquisition, Luxshare intends to operate the Global Body Control Systems business as an independent company that will remain headquartered in Radolfzell, Germany. Al...

Acquirer Acquired Business Sector Comment AVX Corporation  Transportation, Sensing and Control division (TS&C) of TT Electronics Sensors AVX Corporation has signed definitive agreement to acquire the Transportation, Sensing and Control division (TS&C) of TT Electronics for GBP118.8 million (USD154.3 million) in cash. The acquired business designs, develops and supplies sensors for temperature, positions and speed, including exhaust or emissi...

Microfiltration company GVS has acquired Kuss Filtration from Industrial Opportunity Partners (IOP), an operations-focused private equity firm, the company announced in a press release on 20 July.  "GVS has high expectations for this new investment. Kuss Filtration brings us extensive experience in the fuel filtration market. Their skilled management team, product portfolio, and significant sales position, will give GVS's Automotive Division clear leadership in the automotive microfiltratio...

Significance: Autoneum has sold the plant due to the ongoing economic weakness in South America, particularly Brazil. The company said the sale of the Brazilian plant is part of its production capacity adjustment in South America which is oriented toward profitable growth. Autoneum said it will keep producing multifunctional components for acoustic and thermal management for international vehicle manufacturers at its three remaining Brazilian plants in Gravataí, São Paulo and Taubaté as well ...

Acquirer Acquired Business Sector Comment Bosch Albertini Cesare S.p.A Aluminium Die-Casting Bosch has announced plans to acquire Italy-based Albertini Cesare S.p.A., a company specializing in aluminum die-casting components for the automotive industry. The acquisition is subject to approval by the antitrust authorities. “We are confident that local production will pick up speed agai...

India-based Tata AutoComp Systems plans to invest INR10 billion (about USD155.3 million) over the next 3-4 years for organic expansion and acquisitions, reports The Economic Times. The company is eyeing acquisition opportunities abroad. The company’s managing director Ajay Tandon was quoted as saying, “In 2013, Tata AutoComp had set itself an ambitious target of generating USD2.1 billion by 2020-2021. To reach there, it needs to make a big leap. I can’t get there just through organic growt...

Following approval by the antitrust authorities, German auto component supplier Mahle has completed the acquisition of electronics specialist Nagares, the company announced in a press release on 24 May. The company said that it will further invest in research and development (R&D) center for electronics business and that the development center in Valencia will operate under the name Mahle Electronics SA with immediate effect. Financial details of acquisition are not disclosed by either compa...

Acquirer Acquired Business Sector Comment Flex-N-Gate Plastic Omnium Seven European Facilities Plastic Omnium has finalized the sale of seven European sites, four in France, one in Spain, and two in Germany, to US-Based Flex-N-Gate Group. Gett Juno Israel-based ride-sharing company Gett has confirmed the acquisition of US...

NEWS The key news and events shaping the automotive supply base in the last month.    SOFTWARE On March 13, 2017 Intel announced its acquisition of Mobileye, perhaps the most significant M&A event to date in the autonomous driving sector with significant impact over the next decade and beyond. POWERTRAIN Development of high fuel injection pressure helped in bringing improvement in diesel engine characteristics by reducing emissions and improving efficiency. CHASSI...

Acquirer Acquired Business Sector Comment 3M Scott Safety Safety systems Johnson Controls, Inc. (JCI) has signed an agreement to sell its safety equipment business, Scott Safety, to 3M for around USD2 billion, the two companies said in separate press releases yesterday (16 March). The transaction is expected to close in the second quarter of 2017, subject to approval from the relevant ...

Private equity firm Kohlberg Kravis Roberts (KKR) has completed a tender offer to acquire 95.21% existing common shares of Japanese supplier Calsonic Kansei, the two companies announced in separate press releases yesterday (23 March). The tender offer was made by CK Holdings, owned by investment funds controlled by KKR, for a total of 255,018,138 shares. The tender offer includes Nissan's nearly 41% stake in Calsonic Kansei. Following the changes in shareholding structure, which is scheduled ...

German automotive parts supplier Mahle plans to acquire Spanish electronics specialist Nagares SA, according to a company press release yesterday (16 March). The companies have agreed not to disclose the purchase price of the transaction, which is still subject to approval by the antitrust authorities. Significance: The acquisition is expected to strengthen Mahle’s presence in the field of electromobility. Entering the control and power electronics segment is an important building block for...

Acquirer Acquired Business Sector Comment CIE Automotive Newcor Inc Machining CIE Automotive is set to acquire Newcor Inc, which is into high precision machine products for automotive sector. Newcor plans to continue operating from its three existing manufacturing facilities in Michigan, the United States. Although, the company did not disclose the value of the deal, a report by Reuter...

German auto component supplier Mahle has acquired a thermoelectrics start-up, O-Flexx Technologies, the company announced in a press release on 13 February. The companies did not reveal the price of the acquisition. “With O-Flexx, MAHLE is stepping up its operations to include thermoelectric technology and is thus laying the foundation for innovative heating and cooling management in every vehicle class,” said Wolf-Henning Scheider, chairman of the Mahle management board and CEO. Signific...

Acquirer Acquired Business Sector Comment Alstom EasyMile Autonomous Vehicle Software Alstom has acquired a minority stake in start-up company EasyMile by investing EUR14 million (USD15 million). Separately, the two companies have inked a commercial partnership agreement aiming at joining their forces to provide integrated solutions for urban transportation. Daiml...

Germany-based Webasto Group has acquired electronics service provider Schaidt Innovations GmbH, the company announced in a press release on 5 January. The business unit will continue to operate at its current location in Wörth-Schaidt, Germany, but will be renamed Webasto Mechatronics. Webasto said all the 170 employees of Schaidt Innovations will be absorbed into the Webasto Group. Financial details of the acquisition were not disclosed by the company. Ralf Beuse and Wolfgang Scheerer will hea...

Tata AutoComp has completed the acquisition of engine cooling supplier TitanX, reports The Economic Times. The company did not disclose the value of the deal. Ajay Tandon, CEO of Tata AutoComp Systems, was quoted as saying, “The acquisition of TitanX will help further strengthen and enhance our offering to our commercial vehicle customers outside India. Through the acquisition of TitanX we will have the scale, portfolio and resources necessary to usher in a new era of innovative products and s...

Acquirer Acquired Business Sector Comment Analog Devices Inc. (ADI) Solid-state laser beam steering technology Autonomous driving Analog Devices Inc. (ADI) has acquired a solid-state laser beam steering technology from Vescent Photonics, the company said in a press release. According to ADI, Vescent’s technology enables more robust integrated Lidar systems that overcome cost, size an...

Calsonic Kansei is a leading manufacturer of cockpit module, front-end module, exhaust systems, air-conditioning unit, compressor, instrument panel, instrument cluster, electronic components, radiator, condenser, muffler, and converter for the automotive industry. Nissan is Calsonic's primary customer. Infact, some 80% of Calsonic's global revenues come from Renault/Nissan.  Nissan to sell entire stake in Calsonic Kansei Nissan Motors drastically reformed its business operations in th...

Nissan has agreed to sell its 41% stake in Japanese auto parts supplier Calsonic Kansei to US-based private equity firm KKR & Co., reports Nikkei. KKR will launch a tender offer to obtain all outstanding shares in the company for an estimated JPY400 billion (USD3.6 billion). Calsonic Kansei will receive approximately JPY200 billion in proceeds, which it intends to use for the development of new safety and environmental technologies. Significance: Calsonic specializes in making interiors, ...

Private equity firm KKR & Co is set to become the preferred bidder to buy Nissan’s supplier Calsonic Kansei Corporation in a deal worth around USD3.8 billion, the Nikkei daily reported on 27 October. Nissan plans to sell its 41% stake in Calsonic and then the US-based private equity firm would seek the remaining shares from other shareholders, the newspaper said. Bain Capital and MBK Partners were also bidding to buy the auto parts maker, which has a market value of around JPY280 bil...

Acquirer Acquired Business Sector Comment Ashok Leyland Hinduja Foundries Castings Ashok Leyland’s board of directors has approved a plan to merge with Hinduja Foundries. In a statement filed with stock markets, the Chennai-based automaker said its board has unanimously approved the amalgamation with the Hinduja Group Company. Hinduja Foundries is a manufacturer of grey iron castings...

Liaoning Dare Industrial Company, also known as Dare Group, has signed an agreement with AlpInvest Partners to acquire Germany-based car acoustics and heat management solutions supplier Carcoustics, according to a press release by Carcaustic. “We are pleased that the sale process has been concluded successfully and that we have again a competent partner with whom we can pursue the growth of Carcoustics as a top tier supplier to the global automotive sector as well as to the industrial solution...

Foreign private-equity firms such as Kohlberg Kravis Roberts (KKR) and Bain Capital of the United States, along with MBK Partners of Asia, will submit second-round bids to buy a stake in Calsonic Kansei. According to a report on Reuters, citing people with knowledge on the matter, the three private equity firms will bid for Nissan's 41% controlling stake in the Japanese component supplier. The first-round bids were closed in June and the second-round bids are expected to close by mid-October. Fu...

Lear announced yesterday (8 September) that it has "entered into a strategic partnership with Tempronics, pursuant to which Lear obtained a minority interest" in the supplier, as well as securing exclusive rights to its thermoelectric seat heating and cooling technology for automotive applications, according to a company press release. In the statement, Ray Scott, Lear executive vice-president and president of Lear's seating division, said, "This partnership will provide Lear with the ability to...

The global automotive heating ventilation and air conditioning (HVAC) module market has been changing in the last few years. Currently, the market is dominated by five prominent players -- Denso, Mahle, Valeo, Hanon Systems and Calsonic Kansei – catering to ten major automakers. Between them, the five companies account for close to 80% of the market, amounting to USD8.4 billion of business.  As the pie chart shows, Denso has the largest share of the HVAC module market at USD3.2 billion...

Acquirer Acquired Business Sector Comment Eberspächer Manufacturing plant of Paul Rauschert Steinbach Thermal Eberspächer has acquired a manufacturing plant operated by Paul Rauschert Steinbach in Hermsdorf, Thuringia, Germany. The plant produces Positive Temperature Coefficient (PTC) heating elements for hybrids and electric vehicles. It has 80 employees. The acquired plant is now m...

India-based auto component supplier Tata AutoComp Systems has announced plans to acquire Sweden-based TitanX, a supplier of engine and powertrain cooling solutions to the commercial vehicle industry, reports Autocar Professional. The company did not disclose the financial details of the transaction. Subject to customary regulatory approvals, the transaction is expected to be completed by the end of 2016. Ajay Tandon, CEO of Tata AutoComp Systems, was quoted as saying, “Tata AutoComp offers ...