Brembo has signed an agreement with Tenneco, a portfolio company of funds managed by affiliates of Apollo Global Management, Inc., for the acquisition of a 100% stake in Öhlins Racing, a leading manufacturer of premium, high-performance suspension technology for motorcycles and cars in the Original Equipment, Motorsport, and Aftermarket segments.
According to Matteo Tiraboschi, Brembo’s Executive Chairman, Öhlins is a strong fit for the company, being a world-renowned brand with a solid business and an unrivaled reputation in both racetrack and road performance. He noted that the acquisition offers Brembo an opportunity to expand its offerings in the automotive market and aligns with its strategy to provide integrated intelligent solutions to customers by leveraging synergies across key vehicle technologies.
Founded in 1976, Öhlins Racing is headquartered in Upplands Väsby (Stockholm), Sweden, and has a significant international presence. The company employs approximately 500 people across two production facilities in Sweden and Thailand, with R&D centers and distribution branches in both countries as well as in the U.S. and Germany. Öhlins’ suspension technology is known for its precision, performance, and innovation, offering a wide range of products, including shock absorbers, front forks, steering dampers, software, algorithms, and accessories for the OEM and aftermarket markets. Öhlins also has a strong presence in motorsport, supplying major championships like MotoGP, Formula 1, World Superbike, and NASCAR. The company is expected to close 2024 with a turnover in the range of USD 144 million, with an adjusted EBITDA margin between 21% and 22%.
Jim Voss, CEO of Tenneco, expressed confidence in Brembo as the right partner to take Öhlins Racing to the next level, emphasizing that the sale supports both Öhlins’ future success and Tenneco’s strategy to streamline its business and strengthen its balance sheet. Tom Wittenschlaeger, CEO of Öhlins Racing, also highlighted the potential to unlock new growth opportunities by joining forces with Brembo, driving innovation, and delivering greater value to customers and employees.
Öhlins Racing is focused on developing the next generation of mechatronic suspension technology, which will complement Brembo’s mission to become a Solution Provider for future mobility. The acquisition, valued at USD 405 million (approximately €370 million), represents the largest in Brembo’s history. The purchase will be made on a cash-free, debt-free basis, with adjustments as necessary, and will be paid using available cash. Subject to regulatory approvals, the deal is expected to close in early 2025.
This acquisition continues Brembo’s investments in the motorcycle and motor racing sectors. In 2021, the company acquired SBS Friction in Denmark and J.Juan in Spain, expanding its two-wheeler braking system offerings. Earlier this year, Brembo announced a new production site in Thailand dedicated to motorcycle braking systems. The two-wheeler business currently accounts for approximately 13% of Brembo’s total revenues.
