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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) from SSW Partners LP, as initially announced on December 6, 2023. Veoneer, a prominent figure in Automotive Safety Electronics, sees nearly 25% of global cars leaving production lines equipped with its Restraint Control System products, ensuring occupant protection during traffic accidents. The transaction, aligning with Veoneer's strategic goals, designates AIP Fund VII as the long-term steward of Veoneer's Restraint Control Systems business, providing a platform for sustained growth that benefits employees, suppliers, customers, and end-users. This marks the completion of Veoneer's strategy to find optimal long-term homes for its distinct lines of business.
Financial advisors Evercore and Morgan Stanley & Co. LLC, along with legal counsels Davis Polk & Wardwell LLP and Eversheds Sutherland LLP, facilitated the transaction on behalf of Veoneer and SSW. Ropes & Gray LLP and Baker Botts LLP acted as legal and regulatory counsels for AIP, Veoneer, and SSW in the successful acquisition.
Read More - https://www.techdogs.com/tech-news/pr-newswire/american-industrial-partners-capital-fund-vii-completes-acquisition-of-veoneer
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