Lear Corp. in Southfield, a global automotive seating and e-systems technology provider, has announced plans to acquire Germany’s I.G. Bauerhin (IGB), a privately held supplier of automotive seat heating, ventilation, active cooling, steering wheel heating, seat sensors, and electronic control modules for $149.96 million (€140 million).
The cash- and debt-free transaction, subject to regulatory approvals and other customary closing conditions, is expected to close in the next six to nine months.
To further expand its capabilities, last week Lear acquired Thagora Technology SRL, a privately held Romanian company specializing in material utilization hardware and software technologies. The transaction will expand the Lear’s product capabilities into active cooling and complement its existing offerings.
In addition, in February Lear acquired substantially all of Kongsberg Automotive’s Interior Comfort Systems business unit. The group provides comfort seating solutions that 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,” says Ray Scott, president and CEO of Lear. “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, Germany, and has more than 4,000 employees at nine manufacturing plants in seven countries.
A provider of thermal comfort products since 1976, IGB content can be found on a large range of vehicle types, including luxury, high-volume, niche, and electric vehicles, produced by nearly all global automakers. IGB generated approximately $220 million (€205 million) in revenue in 2021.
“IGB is an established and well-respected premium thermal comfort solutions supplier,” says Frank Orsini, executive vice president of Lear and president of Lear Seating. “Their capabilities will allow Lear to grow our seating business and continue to offer superior in-vehicle experiences to our customers. We look forward to welcoming the IGB team to the Lear family.”
Josef Hilmer, CEO of IGB, adds: “I am confident that our employees will thrive in Lear’s thermal comfort solutions business and continue to drive growth and innovation. Together, we can more efficiently and effectively achieve an optimized and integrated occupant comfort solution