American Industrial Partners Capital Fund VII Completes Acquisition Of Veoneer

 


Veoneer has successfully concluded the acquisition of its Restraint Control Systems business by the American Industrial Partners Capital Fund VII (AIP Fund VII), marking the completion of a deal first disclosed on December 6, 2023. As a global leader in Automotive Safety Electronics, Veoneer's Restraint Control System products were integrated into nearly one-fourth of cars produced worldwide in the past year, enhancing occupant safety during traffic incidents. The company's preeminent position is a culmination of decades dedicated to delivering top-notch product quality, technical innovation, and superior customer service. With AIP's ownership, Veoneer now possesses a robust foundation for long-term sustainable growth, with positive implications for its workforce, suppliers, customers, and end-users.

This transaction successfully realizes Veoneer's and SSW Partners LP's strategy of securing appropriate long-term homes for Veoneer's original lines of business: Arriver™ Software, currently owned by Qualcomm; Active Safety, under the ownership of Magna International; and Restraint Control Systems, now acquired by AIP Fund VII. Financial advisors Evercore and Morgan Stanley & Co. LLC facilitated the transaction, while legal counsels Davis Polk & Wardwell LLP and Eversheds Sutherland LLP handled legal aspects for Veoneer and SSW. Ropes & Gray LLP served as the legal counsel to AIP, and Baker Botts LLP acted as regulatory counsel to AIP, Veoneer, and SSW.

Read More - https://www.techdogs.com/tech-news/pr-newswire/american-industrial-partners-capital-fund-vii-completes-acquisition-of-veoneer

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