Atar Capital's Solero Technologies Expands with Kendrion Deal
Atar Capital's Recent Acquisition: A Major Move in Automotive Industry
Atar Capital has announced a significant achievement through its affiliate, Solero Technologies, which has successfully acquired Kendrion’s automotive business. This acquisition, valued at an impressive $67.1 million, marks a pivotal moment for both companies as they aim to advance their position within the automotive sector.
Details of the Acquisition
The acquired business generated revenues of $231 million, demonstrating significant potential and profitability. Alongside this, the automotive division brought in an EBITDA contribution of $23.1 million, indicating robust operational performance. Solero Technologies is poised to enhance its market presence through this strategic acquisition, adding vital capabilities to its existing portfolio.
Solero Technologies: A Leader in Automotive Solutions
Solero Technologies stands out as a global supplier that specializes in actuator and solenoid valve solutions for various automotive systems. With over fifty years of industry experience, Solero is renowned for its emphasis on safety, quality, and precision in all its offerings.
Innovation and Sustainability at the Core
The company is deeply committed to developing innovative technologies that not only meet the needs of their clients but also address environmental sustainability. The acquisition of Kendrion's automotive business aligns perfectly with Solero's mission to promote advanced solutions in vehicle performance enhancements while reducing environmental impacts.
The Vision from Atar Capital's Founder
Cyrus Nikou, the founder of Atar Capital, expressed excitement regarding this venture, noting that this move significantly contributes to the overall mission of expanding their automotive affiliate. He highlighted the strengths of both companies and the influential role this partnership could play in shaping the future of mobility.
Aiming for the Future
This partnership is expected to bolster Solero’s capabilities in developing and deploying innovative automotive technologies. By harnessing Kendrion’s extensive industry expertise, Solero is ready to pioneer solutions that could revolutionize mobility and connectivity in vehicles.
About Atar Capital
Atar Capital operates as a global private investment firm, engaging with lower middle market businesses that show potential for growth and revitalization. The firm's principals boast a wealth of experience, having successfully executed 90 private equity transactions across 18 countries. This rich background supports Atar Capital in delivering significant value to its portfolio companies.
A Commitment to Operational Excellence
The company stands out for its ability to leverage operational expertise and industry know-how, positioning itself as a true partner to the businesses it invests in. By focusing on improving growth, operations, and financial performance, Atar Capital strives to create sustainable value for all its stakeholders.
Solero Technologies: Leading the Charge
As a global leader in solenoid and actuator technologies, Solero embodies a commitment to innovation and quality. Its product portfolio includes advanced solutions in transmission solenoids and hydraulic control modules, essential for optimal vehicle performance. Furthermore, the company's recent ventures include the development of electrification components, showcasing its forward-thinking approach.
Building a Sustainable Future
In alignment with global sustainability efforts, Solero Technologies integrates creative engineering solutions in its operations, underpinning the company’s dedication to a cleaner future. By operating from its manufacturing facility in Water Valley, Mississippi, alongside its sales and engineering division in Detroit, Solero ensures its products meet the highest standards.
Kendrion: Innovating for Tomorrow
Kendrion has long been recognized for its innovations in actuators that help propel the electrification agenda across various sectors. With a strong foundation rooted in over a century of experience, Kendrion continues to pioneer solutions that support advancements in energy efficiency and sustainability.
A Global Presence
Headquartered in the Netherlands, Kendrion operates globally with a commitment to excellence in engineering practices. The company’s dedication to responsible sourcing and manufacturing principles underlines its ambition to transition to cleaner and safer energy sources, directly supporting its OEM customers worldwide.
Frequently Asked Questions
What is the significance of Atar Capital's acquisition?
The acquisition strengthens Solero Technologies' market position and expands its product offerings, enhancing innovation in the automotive sector.
How will this impact Solero Technologies?
It enables Solero to leverage Kendrion's expertise, driving forward innovative technologies that reduce environmental impacts in automotive systems.
What are the financial highlights of the acquisition?
The acquisition is valued at $67.1 million, with the divested activities generating $231 million in revenue and an EBITDA of $23.1 million.
Who is Cyrus Nikou?
Cyrus Nikou is the founder of Atar Capital, instrumental in guiding its growth and aiming to foster advancements in the automotive sector.
Why is sustainability important in this acquisition?
Sustainability aligns with the automotive industry's needs to reduce environmental impacts and meet regulatory standards, driving innovation forward.
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