The acquisition includes five European plants, one of which is located in Romania.

This strategic move will enable Solero to capitalise on the increasing global demand for electrification and sustainable energy solutions in the automotive industry. 

Kendrion's automotive business designs and manufactures intelligent actuators, crucial components in advancing the shift towards more sustainable vehicles. 

The deal will significantly increase Solero's footprint in Europe and the US, doubling the company's annual revenue.

"Kendrion's automotive product portfolio is complementary and well aligned with Solero Technologies' inorganic growth strategy," said Dr Donald R. James, CEO of Solero Technologies. "The combined company will be well-positioned for capitalising on global opportunities that support the industry transformation to electrification and sustainability."

The expansion into Romania, along with the addition of plants in the Czech Republic, Germany and the US, underscores Solero's commitment to becoming a global leader in the automotive sector. 

The acquisition was supported by Atar Capital, a Los Angeles-based global private equity firm that acquired Solero two years ago.