Tenneco Announced Acquisition To Acquire Öhlins Racing A.B.admin
Tenneco Inc. signs definitive agreement to acquire Öhlins Racing A.B.
Tenneco Inc. has signed a definitive agreement to acquire Öhlins Racing A.B. (“Öhlins”), a Swedish technology company that develops premium suspension systems and components for the automotive and motorsport industries.
The addition of Öhlins will accelerate the development of advanced original equipment (OE) intelligent suspension solutions, while also fast-tracking time to market. It will also enhance Tenneco’s portfolio in broader mobility markets with the addition of Öhlins’ range of premium OE and aftermarket automotive and motorsports performance products.
Founder Kenth Öhlin will retain a minority interest in Öhlins and partner with Tenneco to provide continuity in his strategic and technological vision.
“I am proud of the Öhlins team and all we have accomplished over the last 43 years. We are excited to continue to deliver innovative technologies that can accelerate growth with the full strength and resources of Tenneco behind us,” Mr Öhlin stated.
According to Tenneco co-CEO, Mr Brian Kesseler, this acquisition follows a long and mutually successful association between the two leading Aftermarket Ride Performance product companies. “Tenneco’s 20 year relationship with Öhlins has delivered world class product in the intelligent suspension market and provides a strategic entry into advanced performance communities with premium branded products and proprietary Continuously Controlled Electronic Suspension Valve (CES) technology,” Mr Kesseler said.
“Öhlins’ technology team will allow us to rapidly grow our product offerings for current and future customers, as well as help us win a larger share of business in developing mobility markets. I am delighted to welcome the Öhlins team as an important part of our new Aftermarket and Ride Performance company,” he added.
The acquisition is expected to close during the first quarter of 2019, subject to regulatory and shareholder approvals and other customary closing conditions.
The benefits of Tenneco’s performance product and motorsport specific product range through the acquisition of Öhlins will be gained across all of Tenneco’s global markets, including Australia and New Zealand.