Adient has sold its Recaro Automotive Seating business to Raven Acquisitions LLC, a Detroit-based, privately owned investment corporation. The transaction was effective Jan. 1.
Recaro Automotive Seating develops, produces and markets premium vehicle seats for OEMs and the aftermarket at three locations in Europe, the U.S. and Japan and employs approximately 425 employees. In fiscal year 2019, the business generated approximately $150 million in revenue.
With the new corporate structure, Recaro Automotive Seating will be able to focus on its core business – performance seats, ergonomic seats and special applications – with shorter and faster decision-making processes allowing greater flexibility to better meet the requirements of the market.
The license agreement and therefore the right to use the Recaro brand on license for the development, production and marketing of premium car seats is transferred to the new owners. The brand license is granted by Recaro Holding GmbH, Stuttgart/Germany, the holding company of Recaro Aircraft Seating and Recaro eGaming.
