Tenneco has announced an agreement to sell Öhlins Racing, a renowned manufacturer of high-quality suspension technology, to Brembo, a global leader in high-performance braking systems. This acquisition is a significant step in Tenneco’s strategic realignment.
The deal is pending customary regulatory approvals and is anticipated to be finalized in early 2025. Tenneco is committed to supporting its customers, employees, and stakeholders throughout this transition.
For this transaction, Jefferies LLC is serving as the lead financial advisor to Tenneco, with Barclays also advising on financial matters and Sidley Austin LLP providing legal support. On the Brembo side, BofA Securities is acting as financial advisor, while Simpson Thacher & Bartlett and BonelliErede are handling legal advisory services.
“This sale not only positions Öhlins Racing 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,” said Jim Voss, CEO of Tenneco.
“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,” said Tom Wittenschlaeger, CEO of Öhlins Racing.
“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.”
