LAKE FOREST, Ill. (BRAIN) — Tenneco Inc., a publicly traded U.S. automotive company with annual sales over $9 billion, has agreed to buy Öhlins, a Swedish suspension company that offers some bicycle products in addition to suspension for the motorsports industry. Tenneco is the former owner of Marzocchi, whose mountain bike assets are now owned by Fox Factory.
Tenneco is paying about $180 million for the company.
"Öhlins' technology team will allow us to rapidly grow our product offerings for current and future customers, as well as help us win a larger share of business in developing mobility markets. I am delighted to welcome the Öhlins team as an important part of our new Aftermarket and Ride Performance company," said Brian Kesseler, co-CEO of Tenneco.
Founder Kenth Öhlin will retain a minority interest in Öhlins. "I am proud of the Öhlins team and all we have accomplished over the last 43 years. We are excited to continue to deliver innovative technologies that can accelerate growth with the full strength and resources of Tenneco behind us."
The acquisition is expected to close in the first quarter of 2019. Öhlins has worked closely wth Specialized on some OE shocks in recent years.
