Rennie Scaysbrook | October 11, 2024
Italian brake manufacturer Brembo has finalized a deal to purchase Swedish suspension company Öhlins Racing for $405 million in cash from Apollo Global Management-backed Tenneco.
Brembo is controlled by the Italian Bombassei family and already had a 70 percent stake in Öhlins but raised €280 ($306.6 million) by selling its 5.6 percent stake in tire manufacturer Pirelli, quashing rumors of a planned merger between the two Italian automotive giants.
Brembo now control Öhlins Racing suspension, adding the company the portfolio that includes Marchesini wheels, all three seen in this photo.
“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,” said Matteo Tiraboschi, Brembo Executive Chairman. “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.”
Founded in 1976, Öhlins Racing is based in Upplands Väsby (Stockholm), Sweden, and has a strong international footprint. Öhlins employs approximately 500 people across two production facilities located in Sweden and Thailand, two R&D centers in Sweden and Thailand, and four distribution and testing branches in the U.S., Germany, Thailand and Sweden.
“We’re confident that Brembo is the right partner to take Öhlins Racing to the next level,” said Jim Voss, CEO of Tenneco. “This sale not only positions Öhlins and its employees for continued success under Brembo’s leadership in the market, but it also supports Tenneco’s strategy of streamlining our business portfolio and strengthening our balance sheet as we continue to execute on our long-term vision.”
Brembo’s acquisition of Öhlins adds another company to the Bombassei family portfolio, which includes Danish SBS Friction (brake pads), Spanish J.Juan brake calipers and Marchesini wheels. In February of this year, Brembo announced its entry into Thailand with a new production site dedicated to braking systems for motorcycle manufacturers. The two-wheeler business is today worth approximately 13 percent of Brembo’s total revenues.
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