Brembo has just acquired the Swedish company Öhlins Racing after completing negotiations with the current owners, Tenneco, which did the same in 2018 for an approximate capital of 140 million euros. Matteo Tiraboschiexecutive president of Brembo, comments on the operation: “It is a world-renowned brand, with a strong business and an unrivaled reputation, both on the track and on the road.”
“We welcome Öhlins to our Group as a great opportunity to expand our offering for the automotive market. With this addition, we take another step forward in our strategy of providing intelligent integrated solutions to our customers, taking advantage of the synergies between key technologies in the vehicle field.”
Brembo disburses 370 million in this operation
This purchase by Brembo comes just a few days after the sale of its shares in Pirelli. The Italian brand got rid of a total of 55.8 million shares, which it ended up selling at a rate of 5.07 euros each. As a result, the brand manages to raise a final amount of about 283 million euros, which is equivalent to collecting profits if we compare it with what it paid in April 2020 for 2.4% of Pirelli’s capital, 74 million euros.
We assume that this same capital is what was used to purchase Öhlins Racing, adding the difference up to the total 370 million euros that this strategic acquisition has meant for the coffers of the Italian firm. Jim VossCEO of Tenneco comments: “We are confident that Brembo is the right partner to take Öhlins Racing to the next level.”
“This sale not only positions Öhlins and its employees for continued success under Brembo’s leadership in the market, but also supports Tenneco’s strategy to rationalize our business portfolio and strengthen our balance sheet as we continue to execute our vision. in the long term.”
For its part, Tom WittenschlaegerCEO of Öhlins Racing states that: “By joining 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.”
This agreement marks the largest acquisition in Brembo’s history. The brand clarifies that: “The acquisition will be paid for with cash on hand and is subject to customary regulatory approvals and is expected to close in early 2025.” This acquisition continues Brembo’s investment after the Group’s purchase of SBS Friction in Denmark and J. Juan in Spain, thus completing the offering of braking system solutions dedicated to two-wheeled vehicles.
In February this year, Brembo announced its entry into Thailand with a new production facility dedicated to braking systems for motorcycle manufacturers. Brembo also controls Marchesinithe leading brand in the design and production of light alloy wheels for racing and road motorcycles. The two-wheeler business today represents approximately 13% of Brembo’s total revenue.
