Brembo buys suspension maker Ohlins Racing for $405 million Reuters

MILAN (Reuters) – Italy’s Brembo said on Friday it had agreed to buy suspension technology maker Ohlins Racing for $405 million, in the largest-ever acquisition of a premium brake maker.

Sweden-based Ohlins will be fully acquired from Tenneco, backed by Apollo Global Management, and will be paid for with available cash, Brembo said in a statement.

Brembo chief executive Matteo Tiraboschi said Ohlins was a “strong fit” helping it expand its offerings to the automotive market.

“With this addition, we are taking another step forward in our strategy to provide our customers with intelligent integrated solutions, leveraging synergies between key vehicle corner technologies,” he said.

Brembo, which is controlled by Italy’s Bombassei family with around a 70% stake, raised more than €280m in cash earlier this month by selling its entire 5.6% stake in Pirelli tires , a move that also put an end to speculation about a merger between the two Italian groups.

The statement added that Ohlins Racing is committed to developing the next generation of mechatronic suspension technology for both road and track, reinforcing Brembo’s “mission to be a solutions provider for future mobility.”

With revenue expected to reach approximately $144 million at the end of the year, Ohlins Racing manufactures a wide range of products, including shocks, front forks, steering dampers, software and algorithms. It is also a provider of motorcycle championships, including Formula 1 and MotoGP.

The group has 500 employees in two production facilities in Sweden and Thailand, two research and development centers and four distribution and testing subsidiaries in the US, Germany, Thailand and Sweden, Brembo said.

“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, Ohlins Racing CEO.

The acquisition is expected to close in early 2025.

BofA Securities is acting as financial advisor to Brembo, while Jefferies is acting as lead financial advisor to

Tenneco.