Lear Completes Acquisition of I.G. Bauerhin

Lear Completes Acquisition of I.G. Bauerhin

The acquisition is the company’s final step in its thermal comfort systems strategy.

Lear Corp., a global automotive technology leader in seating and e-systems, announced it has completed its acquisition of I.G. Bauerhin (IGB), further expanding the company’s suite of in-vehicle comfort technologies.

IGB, headquartered in Gruendau-Rothenbergen, Germany, is a privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors and electronic control modules with more than 4,600 employees at nine manufacturing plants in seven countries.

IGB’s products will enhance Lear’s Thermal Comfort Systems portfolio, which combines efficient heating, ventilation and active cooling, lumbar support and massage with exceptional seating craftsmanship.

“IGB is the final piece of Lear’s comprehensive strategy to develop and integrate its Thermal Comfort Systems for automotive seating,” said Ray Scott, Lear president and CEO. “Lear is the most vertically integrated global seat supplier with the unique ability to design and manufacture the most sophisticated, highest quality and best performing overall seating systems in the world. We are reducing complexity, weight and total costs while responding faster to our customers’ demands.”

In May 2022, Lear announced it had signed a definitive agreement to acquire IGB for €140 million, on a cash and debt-free basis.

This is the second acquisition Lear has undertaken during the past two years to enhance its Thermal Comfort Systems portfolio. In February 2022, Lear acquired substantially all of Kongsberg Automotive’s Interior Comfort Systems business unit, a provider of seat massage, lumbar, seat heating and ventilation products with more than 3,800 employees in four production facilities and four technical centers on three continents.

“Our customers are adopting Thermal Comfort Systems in both internal combustion engine and electric vehicle segments ranging from entry-level to high-end luxury,” said Frank Orsini, Lear executive vice president and president, Seating. “We are also seeing thermal comfort content expand into second row applications. We welcome IGB employees and the expertise they bring to the Lear family.”

You May Also Like

MEMA to Host International Supply Chain Webinar

The content of the webinar will be beneficial to operations, logistics and purchasing teams, the organizations said.

Gemini-Shippers_MEMA-webinar

MEMA announced it will host a webinar covering current international shipping issues that are affecting the global supply chain. The webinar, set for June 10, 2024, at 11:00 a.m. PST/2:00 p.m. EST, will be sponsored by Gemini Shippers.

The content of the webinar will be beneficial to operations, logistics and purchasing teams, the organizations said.

Iveco, Foton Announce Joint Exploration Project

The two companies will look into future synergies in the areas of electric vehicles and components.

Hyundai Motor, Iveco Group Partner on Electric H-D Trucks
Andreas Nix Takes Over as COO of ZKW Group

Nix replaces Stefan Hornvuis, who left the company for personal reasons.

https://www.aftermarketnews.com/zkw-named-headlamp-supplier-for-the-bmw-xm/
Distressed German Companies: Creating M&A Opportunities

Hertzog discusses how to create opportunities with exceptional values when acquiring the operations of a distressed company in Germany.

Phil-Hertzog-Distressed-German-Companies
Schaeffler Appoints New Head of Investor Relations

Schaeffler AG announced two important leadership changes within the management level directly below the Board of Managing Directors, effective June 1, 2024.

Schaeffler promotions

Other Posts

HDA Truck Pride’s The Service Co. Acquires BSA of Ohio

The acquisition expands the company’s presence in the Dayton, Ohio, market.

HDA-Truck-Prides-The-Service-Co.-Acquires-BSA-of-Ohio
Yokohama Rubber Q1 2024 Sales Up 23.5%

The figures for sales revenue and business profit were record-high figures for first-quarter performance at Yokohama Rubber.

FAW Trucks Secures Order of 1,000 Vehicles Overseas

FAW Trucks signed the order with its Kenyan dealer, TAM Company.

FAW Trucks Secures Order of 1,000 Vehicles Overseas
Li-Cycle Partners with Daimler Truck North America

Li-Cycle continues to support DTNA on its goal of integrating a comprehensive circular economy approach across its operations.

Li-cycle Logo