Iconic brake manufacturer Brembo has bought suspension technology maker Ohlins Racing outright from parent company Tenneco for US$405 million (RM1.74 billion). Subject to regulatory approvals, the acquisition is set to be Brembo’s biggest ever when it closes in early 2025.
“With this addition, we take another step forward in our strategy to provide integrated intelligent solutions to our customers, leveraging synergies across key technologies in the vehicle’s corner,” said Brembo executive chairman Matteo Tiraboschi, adding that Ohlins is a “strong fit” for the company.
Ohlins Racing CEO Tom Wittenschlaeger said, “As we join forces with Brembo, we are excited to unlock new growth opportunities and leverage our respective strengths and assets to drive innovation and deliver even greater value to our customers and employees.”
Headquartered in Upplands Vasby, Sweden, Ohlins’ revenue is expected to hit around US$144 million (RM619 million) by the end of this year. The group employs some 500 people across two production facilities in Sweden and Thailand, two R&D centres and four distribution and testing branches in the US, Germany, Thailand and Sweden.
Based in Curno, Italy, Brembo disposed of its entire 5.6% stake in tyre maker Pirelli earlier this month, raising over 280 million euros (RM1.31 billion) in cash, Reuters reports.
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Wow smart move! Both are gold, suit each others image