Announced
Financials
Tags
Private
Auto Parts
Electronics Machinery
Pending
manufacturing
Friendly
Single Bidder
automotive accessories
Majority
Acquisition
Germany
Cross Border
Synopsis
Lear, an automotive technology company, agreed to acquire I.G. Bauerhin, a privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors, and electronic control modules, for $147m. "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 Lear's industry-leading seating expertise and Kongsberg's products and capabilities with IGB's cutting-edge technology will allow us to accelerate the commercialization of efficient, high-performance seating systems that are aligned with the key priorities of our OEM customers and consumers alike," Ray Scott, Lear President and CEO.
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