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Brembo Buys Suspension Specialists Öhlins Racing For $405 Million
Italian braking specialist Brembo has acquired Swedish suspension manufacturer Öhlins Racing. The deal which is worth $405 million was announced earlier this month and is the biggest-ever purchase in Brembo's history.
The announcement of the deal came just over a week after Brembo had disinvested its entire 5.6 per cent stake in fellow Italian firm Pirelli. Brembo had sold its stake in Pirelli, the sole tyre manufacturer for Formula 1, for a cool $313 million.
Speaking about the purchase of Öhlins Racing, Brembo Executive Chairman, Matteo Tiraboschi said, "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."
Tom Wittenschlaeger, CEO of Öhlins Racing spoke of the firm's purchase by Brembo stating, "As we join forces with Brembo, we are excited to unlock new growth opportunities and leverage our respective strengths and assets to drive innovation and deliver even greater value to our customers and employees."
Öhlins Racing was founded in 1976 and the suspension specialist produces parts for both road and track vehicles. It also supplies suspension parts to the top level of motorsports in both premium four and two-wheeler racing championships including the likes of Formula 1, MotoGP, Nascar, and World Superbike.
Öhlins Racing offers an extensive range of products, including shock absorbers, front forks, steering dampers, software and algorithms, and accessories for the OEM and aftermarket segments.
The Swedish firm currently employs approximately 500 people across two production facilities located in Sweden and Thailand and two R&D centers in the same countries. Öhlins Racing also has four distribution and testing facilities in the U.S., Germany, Thailand and Sweden.
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