(RTTNews) - Lear Corp. (LEA) agreed to acquire I.G. Bauerhin (IGB), a privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors, and electronic control modules, for 140 million euros, on a cash- and debt-free basis.
The transaction is expected to close in the next six to nine months.
IGB has more than 4,000 employees at nine manufacturing plants in seven countries. A provider of thermal comfort products since 1976, IGB content can be found on a large range of vehicle types, including luxury, high-volume, niche and electric vehicles, produced by nearly all global automakers. IGB reported approximately 205 million euros in revenue in 2021.
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