Öhlins Racing will soon operate under new ownership: Tenneco, the current owner, has sold the premium suspension component supplier to the Italian company Brembo for US$ 405 million.
Whether in motorsports, the motorcycle segment, or more recently on mountain bikes, the suspension components from Swedish premium supplier Öhlins Racing enjoy an excellent reputation. For the current year 2024, the company, founded in 1976, expects revenues of US$ 144 million with a profit margin nearing 22 percent.
At the end of 2018, the U.S. automotive supplier Tenneco secured a majority stake in Öhlins for US$ 160 million with the help of investors from Apollo Global Management. Prior to this, Tenneco had already been involved in the cycling industry, owning the Marzocchi brand from fall 2008 to the end of 2015. Now, Tenneco has reached an agreement with the Italian manufacturer Brembo to sell Öhlins for US$ 405 million.
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“This sale not only positions Öhlins Racing and its employees for continued success under Brembo’s leadership in the market, but it also supports Tenneco’s strategy of streamlining our business portfolio and strengthening our balance sheet as we continue to execute on our long-term vision,” said Jim Voss, CEO of Tenneco. “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,” added Tom Wittenschlaeger, CEO of Öhlins Racing.
Brembo is best known in motorsports as a manufacturer of disc brakes and aims to strengthen its position as a supplier to the automotive and motorcycle industries with the acquisition of Öhlins. Part of the funds needed for this acquisition was made available recently when Brembo sold a 5.6 percent stake in tire manufacturer Pirelli, bringing in EUR 280 million. Brembo itself is 70 percent owned by the Italian Bombassei family.
“Öhlins is a strong fit for Brembo. It is a world-renowned brand, with a solid business and an unrivaled reputation, both on the racetrack and the road,” said Matteo Tiraboschi, Brembo Executive Chairman. “We welcome Öhlins to our Group as a great opportunity to expand our offerings for the automotive market. With this addition, we take another step forward in our strategy to provide integrated intelligent solutions to our customers, leveraging synergies across key technologies in the vehicle’s corner.”