Announced
Completed
Financials
Tags
Completed
Acquisition
Majority
United States
Storage Terminals
factory
Private Equity
Single Bidder
Friendly
Domestic
Private
Synopsis
Atar Capital, a private equity firm, completed the acquisition of the Water Valley facility of BorgWarner, a global product leader, for $72m. The sale is consistent with Project Charging Forward, BorgWarner’s accelerated electrification strategy which the Company announced in March 2021. Outlined in this strategy is a target to dispose of $3bn to $4bn in annual revenues from its combustion portfolio by 2025 with approximately $1bn of that targeted to be executed by late 2022.
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