Ohlins, the well-known suspension brand, has been sold to American Fortune 500 company Tenneco. Both companies have announced the takeover of Ohlins Racing A.B. by Tenneco. Ohlins founder Kenth Ohlin has agreed to sell a majority share in the Swedish company, and make it a subsidiary of the Illionois-based automotive component manufacturer. 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, the company said in a press release.
Ohlins will be subsidiary of Tenneco and keep its strong brand and team. Kenth Ohlin will continue to hold a minority interest in the company, and serve on the board of Ohlins. The deal is valued at $160 million and will be closed in the first quarter of 2019. Ohlins Racing has been an integral part of motorsport, motorcycle and the automotive industry since 1976, when Kenth Ohlin founded the company.
"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," said Kenth Ohlin.
With distribution in 50 countries and manufacturing facilities in Europe and Asia, Ohlins has managed to combine global reach with world class industry knowledge. Ohlins' strong position as a technology company with high-end suspension for motorcycle, automotive and mountain bikes will complement and further strengthen Tenneco's advanced ride performance portfolio. The addition of Ohlins will accelerate the development of advanced original equipment (OE) intelligent suspension solutions, while also fast tracking time to market. It is also expected to enhance Tenneco's portfolio in broader mobility markets with the addition of Ohlins' range of premium OE and aftermarket automotive and motorsports performance products.