Brembo to acquire Öhlins Racing from Apollo-backed Tenneco for $405m.

Brembo, an Italian manufacturer of automotive parts, agreed to acquire Öhlins Racing, a Swedish company that develops suspension systems for the automotive, motorcycle, mountain bike and motorsport industries, from Apollo-backed Tenneco, an American automotive components manufacturer, for $405m. "Öhlins is a strong fit for Brembo. It is a world-renowned brand, with a solid business and an unrivaled reputation, both on the racetrack and the road. We welcome Öhlins to our Group as a great opportunity to expand our offerings for the automotive market. With this addition, we take another step forward in our strategy to provide integrated intelligent solutions to our customers, leveraging synergies across key technologies in the vehicle’s corner," Matteo Tiraboschi, Brembo Executive Chairman.