Lear to Acquire I.G. Bauerhin, a Global Leader in Seat Climate Control
Acquisition to accelerate strategy in thermal comfort solutions
Lear will acquire IGB for €140 million, on a cash- and debt-free basis. The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close in the next six to nine months.
The transaction, Lear's second acquisition of a thermal comfort solutions company, will expand the Company's product capabilities into active cooling and complement its existing offerings. In February, Lear acquired substantially all of Kongsberg Automotive's Interior Comfort Systems business unit (Kongsberg), whose comfort seating solutions include seat massage and lumbar, as well as seat heat and ventilation.
"The acquisition of IGB furthers Lear's vertical integration strategy and advances our vision of being the leading provider of innovative thermal comfort solutions," said Ray Scott, Lear President and CEO. "Combining Lear's industry-leading seating expertise and Kongsberg's products and capabilities with IGB's cutting-edge technology will allow us to accelerate the commercialization of efficient, high-performance seating systems that are aligned with the key priorities of our OEM customers and consumers alike."
IGB, a global leader in seat climate control, is headquartered in Gruendau-Rothenbergen,
"IGB is an established and well-respected premium thermal comfort solutions supplier," said
"I am confident that our employees will thrive in Lear's thermal comfort solutions business and continue to drive growth and innovation," said
Lear, a global automotive technology leader in Seating and
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Lear Contact, Katya Pruett, 248-447-1646