HIG Capital, a private equity firm, agreed to acquire Spheros, a developer and manufacturer of thermal management solutions for a wide range of passenger buses and coaches both conventional and electric, from Valeo, a French global automotive supplier. Financial terms were not disclosed. “We have been impressed by Spheros’ track record of continuous growth, and we see significant potential in leveraging its worldwide leadership position to support a transition towards clean and sustainable mobility solutions. We believe HIG is the ideal partner to support the management team in the next phase of its growth,” Tobias Borkowski, HIG Capital Managing Director.