Announced
Synopsis
Private equity firm KPS Capital Partners agreed to acquire substantially all of the assets of Garrett Motion, a company primarily involved in engineering, development and manufacturing of turbochargers and related forced induction systems for ground vehicles, for $2.1bn. "We proceed with great conviction and enthusiasm to acquire Garrett, a global leader in turbocharger and electrification technologies, serving nearly every major automotive and commercial vehicle OEM in the world. Garrett enjoys a leading market position, scale, world class research and development sites, and state-of-the-art manufacturing and engineering facilities strategically located around the globe. We look forward to working with the Company's leadership team and employees to accelerate its many attractive growth opportunities as well as increase its already substantial investment in research and development, technology and new product development," Raquel Vargas Palmer, KPS Managing Partner.
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