PHINIA completed the acquisition of SEM from Procuritas.

PHINIA, a premium fuel systems, electrical systems and aftermarket solutions provider, completed the acquisition of SEM, a provider of advanced natural gas, hydrogen, and other alternative fuel ignition systems, from Procuritas, a Nordic private equity house specialized in initiating, structuring and financing buy-outs, for $47m. “We’re genuinely excited about what lies ahead. This acquisition opens new possibilities through the strategic expansion of our portfolio. By combining PHINIA’s expertise in engine management systems with SEM’s deep knowledge of advanced ignition technologies, we expect to create a powerful platform for innovation and efficiency. Together, we’ll unlock new opportunities in the commercial vehicle and industrial markets. We see tremendous potential to scale our combined offerings across a global customer base, integrate our electronics and systems capabilities, and deliver even greater value for our customers and shareholders," Brady Ericson, PHINIA President and CEO.