M&A Deal Summary

H.I.G. Private Equity Acquires Spheros

On March 14, 2024, private equity firm H.I.G. Private Equity acquired automotive company Spheros from Valeo

Acquisition Highlights
  • This is H.I.G. Private Equity’s 8th transaction in the Automotive sector.
  • This is H.I.G. Private Equity’s 16th transaction in Germany.

M&A Deal Summary
Date 2024-03-14
Target Spheros
Sector Automotive
Buyer(s) H.I.G. Private Equity
Sellers(s) Valeo
Deal Type Divestiture

Target

Spheros

Gilching, Germany
Spheros is engaged in the development and manufacture of air conditioning systems, heaters, coolant pumps, and other related hardware. Spheros offers tailored solutions for all passenger buses and coaches (both conventional and electric), as well as refrigerated transportation fleets. Spheros was founded in 1956 and is based in Gilching, Germany.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $1000 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 352 of 373
Sector (Automotive) 8 of 8
Type (Divestiture) 43 of 45
Country (Germany) 16 of 17
Year (2024) 5 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-11 ICG

Leonberg, Germany

ICG builds complex FTTx networks on behalf of public and private German network operators. ICG is based in Leonberg, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-20 Strada

Doral, Florida, United States

Strada provides an end-to-end offering of technology and services, including U.S. and multi-country global payroll, HR administration & outsourced services, and cloud technology advisory deployment & application managed services. Strada is based in Doral, Florida.

Buy $1.2B

Seller(S) 1

SELLER

Valeo

Paris, France
Category Company
Founded 1923
Sector Automotive
Employees112,700
Revenue 22.0B EUR (2023)
DESCRIPTION

Valeo is an automotive supplier, partner to all automakers worldwide. Valeo was founded in 1923 and is based in Paris, France.

DEAL STATS #
Overall 5 of 5
Sector (Automotive) 4 of 4
Type (Divestiture) 5 of 5
Country (Germany) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-13 Gestigon

Lübeck, Germany

Gestigon GmbH is a German start‑up specialized in developing 3D image processing software for the vehicle cabin. Company provides software for recognition of hand and body gestures.

Buy -
Mergr

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