Automotive supplier Tenneco has acquired a majority stake in suspension manufacturer Öhlins Racing AB. The Swedish company is now to become a subsidiary of the US giant – but as an independent brand.
In the eventful history of the Swedish suspension manufacturer Öhlins, there has been another change of ownership. Kenth Öhlin, founder and majority shareholder, has sold his shares to the US automotive supplier Tenneco. Tenneco, which posted sales of US$ 8.6 billion in 2016, is active worldwide in the original equipment business (OEM) for the automotive industry, but is also represented in the aftermarket with its own brands such as Champion and Monroe.
In 2008, Tenneco had already acquired the Italian suspension manufacturer Marzocchi but closed the company shortly afterwards. Öhlins, on the other hand, is to be integrated into the Group as a subsidiary and will retain as an independent brand. The workforce and management team, including Kenth Öhlin, will also remain on board. The takeover is scheduled for completion at the beginning of 2019.
The then motocross rider Kenth Öhlin founded the company in 1976 out of a desire to manufacture particularly high-quality suspension elements for off-road motorcycles. In 1987 he transferred his majority shareholding to the Yamaha Motor Company, but Öhlins remained as an independent unit. In 2007, Kenth Öhlin bought back Yamaha’s shares and has held the majority of the shares ever since. The current range of products includes suspension for motorcycles, cars and mountain bikes.