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Announced

Enstar Group to acquire BorgWarner Morse TEC from BorgWarner.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Pending

United States

automotive components

Single Bidder

liability holding company

Auto Parts

Majority

Acquisition

Friendly

Private

Synopsis

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Enstar Group, an insurance group, agreed to acquire BorgWarner Morse TEC, a wholly-owned subsidiary of the company that holds asbestos and certain other liabilities, from BorgWarner, an American worldwide automotive industry components and parts supplier. Financial terms were not disclosed. "Enstar continues to provide market-leading legacy solutions for large corporates and their historic liabilities. This is our second acquisition of a non-insurance company and we see a growing potential market here as we expand our business," Dominic Silvester, Enstar's Chief Executive Officer.

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