H.I.G. Capital, a prominent global alternative investment firm boasting $60 billion in capital under management, has declared a definitive agreement to carve out the Thermal Commercial Vehicles division from Valeo. The division, henceforth known as “Spheros,” is positioned for closure within the year, pending customary regulatory approvals. Based in Germany, Spheros stands as the forefront developer and manufacturer of thermal management solutions, catering to a diverse clientele that includes passenger buses and coaches (both conventional and electric), in addition to refrigerated transportation fleets. This move underscores the division’s comprehensive product range, which spans air conditioning systems, heaters, coolant pumps, and related hardware.

Tobias Borkowski, a Managing Director on the H.I.G. Europe Private Equity team, expressed admiration for Spheros’ consistent growth trajectory and the significant potential in elevating its global leadership in clean and sustainable mobility solutions. H.I.G. is recognized as the optimal partner to augment the management team’s efforts towards further growth.

Echoing Borkowski’s sentiments, Markus Noe-Nordberg, Managing Director and Head of the H.I.G. Europe Middle Market Private Equity team, shared his enthusiasm for acquiring Spheros. He emphasized H.I.G.’s proven expertise in navigating corporate carve-outs, which will be pivotal in facilitating the company’s expansion.

Newly appointed CEO of Spheros, Mark Sondermann, conveyed his excitement about the partnership with H.I.G. He is keen on leveraging the substantial global potential, sustaining the company’s dominance in the conventional and electric bus segment, and tapping into new market opportunities.

The acquisition heralds a new era for Spheros, offering an avenue to accelerate its growth and innovation in the thermal management sector. With H.I.G.’s backing, Spheros is well-equipped to continue its pursuit of excellence, focusing on clean and sustainable mobility solutions that align with global environmental goals. This strategic move not only strengthens Spheros’ market position but also enhances its product offerings, setting a new benchmark in the automotive industry for thermal management solutions.

  Automotive Industry, Commercial Vehicles, Corporate Carve-Out, H.I.G. Capital, Spheros, Sustainable Mobility, Thermal Management Solutions, Valeo