With Olins, Bembo will expand its offering to the automotive market to enhance its role as a solution provider of integrated intelligence solutions for its customers.
The deal marks the largest acquisition in Brembo’s history and further strengthens the group’s brand portfolio.
Ohlins has a strong racing heritage and presence in major championships as a popular supplier to MotoGP, Formula 1, Superbike, NASCAR and more.
Tenneco has announced an agreement to sell to Ohlins Racing, a premium suspension technology manufacturer that is a global leader in high-performance braking systems and components. The sale marks a key milestone in advancing Tenneco’s strategic priorities.
“This sale positions Ohlins Racing and its staff for continued success in the Brembo-led market, but 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.” Tenneco CEO Jim Vos said.
“When we join forces with Brembo, we are excited to open up new growth opportunities and leverage our respective strengths and assets to drive innovation and deliver greater value to our customers and employees,” said Tom Wittenschlager, CEO of Ohlins Racing.
“Ohlins is a strong fit for Brembo. According to Matteo Tiraboschi, Executive Chairman of Brembo, a world-renowned brand with a strong business and an unrivaled reputation, both in the race and on the road. We welcome Ohlins to our team as a great opportunity to expand our offering to the automotive market. In addition to this, we take another step in our strategy to provide integrated intelligent solutions to our customers by leveraging synergies across key technologies at the corner of the vehicle.
The acquisition is subject to customary regulatory approvals and is expected to close in early 2025. Tenneco remains committed to its customers, employees and stakeholders throughout this transition.
Jefferies LLC is acting as lead financial advisor to Tenneco. Barclays is acting as financial advisor and Sidley Austin LLP as legal advisor. BofA Securities is acting as Brembo’s financial advisor. Simpson Thacher and Bartlett & BonelliErede are acting as legal advisors.
