H.I.G. Capital to Acquire Spheros (Valeo Thermal Commercial Vehicles Division)
March 14, 2024
H.I.G. Capital (via an affiliate) has signed a definitive agreement to acquire Valeo's Thermal Commercial Vehicles division, which will operate as Spheros after closing. Headquartered in Gilching (Munich), Germany, Spheros is a global developer and manufacturer of thermal management and HVAC systems for buses, coaches and refrigerated transport; the transaction is a carve-out from Valeo and is expected to close in 2024 subject to regulatory approvals.
- Buyers
- H.I.G. Capital
- Targets
- Spheros
- Sellers
- Valeo
- Industry
- Automotive
- Location
- Bavaria, Germany
- Transaction Type
- Divestiture
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