In the recent turn of events, it has come to the highlight that Ohlins, the world-famous suspension manufacturing company, and Tenneco, which is an American Fortune 500 company, have signed a $160 million deal. This deal states that Ohlins is sold to Tenneco and will be a subsidiary of the Illinois-based automotive component manufacturer. It is expected to be closed in Q1 of 2019.
Both the companies involved in the deal have confirmed the takeover of Ohlins Racing A.B. by Tenneco. Speaking about the sale, Kenth Ohlin, Founder of Ohlins, said, “Together, Ohlins and Tenneco will be a very strong constellation. After considering the strengths of both companies, I made the hardest decision of my life – to sell my life’s work. I am absolutely convinced that we are going to develop very positively in the future, and that Ohlins will benefit from the opportunities that will now arise due to Tenneco’s entrance.”
Ohlins was established back in 1976 and because of its sheer knowledge and commitment to providing world-class products, it soon became one of the best suspension manufacturers of the world. Today, Ohlins has distribution in 50 countries and manufacturing facilities in Europe and Asia.
With the acquisition of Ohlins, Tenneco will enhance the company’s position as leading global designers, manufacturers and distributors of ride performance products and technologies. Ohlins will continue to work as before and its team along with Kenth will remain intact. Kenth will continue to hold a minority interest in the company and serve on the board of Ohlins.
With Ohlins’ global reach, world-class industry knowledge, and strong position as a technology company with high-end suspension for motorcycle, automotive and mountain bikes, Tenneco’s advanced ride performance portfolio will benefit a great deal.