Atar Capital-backed Solero Technologies completed the acquisition of the automotive business from Kendrion for $67m.

Atar Capital-backed Solero Technologies, a supplier of transmission solenoids, completed the acquisition of the automotive business from Kendrion, a company that develops and manufactures customized electromagnetic actuators, for $67m. “This is an exciting opportunity to expand Atar’s purpose-driven automotive affiliate. By uniting these complementary businesses, Solero is poised to accelerate the development and deployment of innovative automotive technologies that reduce environmental impact. We’re honored to partner with the Kendrion team and leverage their deep industry expertise to drive forward-thinking solutions that will shape the next generation of mobility,” Cyrus Nikou, Atar Capital Founder.