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Valeo Buys German Clutch Maker FTE Automotive
Valeo SA has agreed to purchase FTE Automotive GmbH, the German maker of brake and clutch actuators, from Bain Capital Private Equity, for €819 million ($914 million). FTE was founded in 1943.
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Valeo SA has agreed to purchase FTE Automotive GmbH, the German maker of brake and clutch actuators, from Bain Capital Private Equity, for €819 million ($914 million).
FTE was founded in 1943. Bain acquired the company for €400 million in 2013. Last year FTE generated about €500 million in revenue with manufacturing operations in Brazil, China, the Czech Republic, Germany, Mexico, Slovakia and the U.S.
Valeo says FTE’s business complements its own and will strengthen the French company’s expansion into hybrid powertrain systems.