Atar Capital-backed Solero Technologies, a supplier of transmission solenoids, agreed to acquire automotive business from Kendrion, a company that develops and manufactures customized electromagnetic actuators, for $70m. “With a commitment to shaping the future of mobility that prioritizes both people and the environment, the acquisition of Kendrion’s automotive business will further expand Atar’s purpose-driven portfolio into the automotive industry. We’re confident this solidifies Solero’s leadership position in the space and we look forward to collaborating with the Kendrion team on the transition," Cyrus Nikou, Atar Capital Founder.