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Brembo Buys Ohlins Racing For $405 Million I talian brake manufacturer Brembo has finalized a deal to purchase Swedish suspension company Ohlins Racing for $405 million in cash from Apollo Global Management-backed Tenneco. Brembo is controlled by the Italian Bombassei family and already had a 70 percent stake in Ohlins but raised €280 ($306.6 million) by selling its 5.6 percent stake in tire manufacturer Pirelli, quashing rumors of a planned merger between the two Italian automotive giants. "Ohlins is a strong fit for Brem - bo. It is a world-renowned brand, with a solid business and an unrivaled reputation, both on the racetrack and the road," said Mat- teo Tiraboschi, Brembo Executive Chairman. "We welcome Ohlins to our group as a great opportu - nity to expand our offerings for the automotive market. With this addition, we take another step forward in our strategy to provide integrated intelligent solutions to our customers, leveraging syner - gies across key technologies in the vehicle's corner." Founded in 1976, Ohlins Rac- ing is based in Upplands Vasby (Stockholm), Sweden, and has a strong international footprint. Ohlins employs approximately 500 people across two produc - tion facilities located in Sweden and Thailand, two R&D centers in Sweden and Thailand, and four distribution and testing branches in the U.S., Germany, Thailand and Sweden. "We're confident that Brembo is the right partner to take Ohlins Racing to the next level," said Jim Voss, CEO of Tenneco. "This sale not only positions Ohlins and its employees for continued success under Brembo's leader - ship in the market, but it also supports Tenneco's strategy of streamlining our business portfolio and strengthening our balance sheet as we continue to execute on our long-term vision." Brembo's acquisition of Ohlins adds another company to the Bombassei family portfolio, which includes Danish SBS Fric - tion (brake pad manufacturer), Spanish J.Juan (maker of brake systems) and performance- wheel company Marchesini. In February of this year, Brembo announced its entry into Thai - land with a new production site dedicated to braking systems for motorcycle manufacturers. The two-wheeled business is today worth approximately 13 percent of Brembo's total revenues. CN WIND IN THE P28 Brembo now controls Ohlins Racing, adding to the company's portfolio that includes Marchesini wheels, all three seen in this photo.