PARIS — Global automotive supplier Valeo has confirmed its acquisition of bus air-conditioning provider Spheros.
Valeo, based in Paris, recently received clearance from antitrust authorities to acquire Spheros, a German company, from Deutsche Beteiligungs AG.
In North America, Spheros provides climate control systems for the school bus industry, among other markets.
“The integration of the 1,100 people at Spheros — leaders in the bus air conditioning market — represents a unique growth opportunity for Valeo, which will capitalize on the operation to develop a comprehensive range of air conditioning solutions to meet the needs of manufacturers of all types of vehicles, from passenger cars to buses," said Jacques Aschenbroich, Valeo's chairman and CEO.
Valeo employs 82,800 people in 30 countries worldwide. The company has 134 plants, 17 research centers, 35 development centers, and 15 distribution platforms.