After having received the clearance from antitrust authorities, Valeo confirms the acquisition of Spheros, the worldwide leader in air conditioning for buses, from Deutsche Beteiligungs AG (DBAG) as announced on December 23, 2015.
This acquisition will allow Valeo to extend its thermal management activities in the fast growing bus market and will be accretive on Valeo’s earnings from the first year.
“We are delighted to welcome Spheros’ teams to Valeo” said Jacques Aschenbroich, Valeo’s Chairman and Chief Executive Officer. “Their technological know-how, combined with the expertise of our Thermal Systems teams will enable the Group to consolidate its leadership in the air conditioning market. The integration of the 1,100 people at Spheros – leaders in the bus air conditioning market – represents a unique growth opportunity for Valeo, which will capitalize on the operation to develop a comprehensive range of air conditioning solutions to meet the needs of manufacturers of all types of vehicles, from passenger cars to buses.”
