Tenneco LLC (“Tenneco”) today completed the previously announced strategic investment into its Clean Air and Powertrain businesses from Apollo Fund X, with American Industrial Partners (AIP) investing alongside. This marks a significant milestone in Tenneco’s continued transformation and positions the company for its next chapter of growth as a leading global supplier in the mobility sector.
Tenneco will continue to operate as one unified company, with no changes to the management team or strategic direction. The transaction provides enhanced access to capital that will fuel targeted growth strategies, support innovation, and unlock new opportunities across key global markets.
“With this investment now complete, Tenneco is fully equipped to accelerate growth across our global operations,” said Jim Voss, CEO of Tenneco. “Over the past two years, we’ve built a high-performing company with a culture rooted in safety, financial discipline, and operational excellence. With the continued support of Apollo, we are well-positioned to move faster, invest smarter, and execute on our purpose—delivering on our goal to be the most trusted partner and the world’s best manufacturer and distributor in the transportation industry.”
Since being acquired by funds managed by affiliates of Apollo (NYSE: APO) (the “Apollo Funds”) in late 2022, Tenneco has delivered top-quartile financial and operational performance, streamlined its organizational model, and invested in advanced capabilities across its operations. The new investment further strengthens Tenneco’s ability to drive both organic and inorganic growth while remaining laser-focused on its core strategic priorities.
SOURCE: Tenneco
