International. Solero Technologies, with the support of Atar Capital, announced that it has reached an agreement to acquire Kendrion's automotive business.
Solero is a global supplier of transmission solenoids, engine solenoids, start-stop accumulators and hydraulic control modules with recent developments and launches of active suspension and electrification components.
The acquisition would expand Solero's footprint with the addition of five European plants located in the Czech Republic, Germany and Romania, as well as one plant in the United States and double the company's annual revenue, according to Solero Technologies.
Solero was acquired two years ago by Atar Capital, a Los Angeles-based global private investment firm that prioritizes purpose-driven businesses, with an expansion plan through organic growth and acquisitions.
