The Blackstone Group, a successful private equity, announced yesterday it has acquired the auto-parts manufacturer TRW Automotive. The acquisition has surprised many industry observers who had not expected Blackstone’s entry into the automotive industry. At a press conference yesterday, Blackstone chief executive, Aimee M. Adler, told reporters that she plans to expand the auto-parts manufacturer’s overseas presence. “We aim to make inroads into the Asian market with TRW,” she said.
TRW Automotive produces components for European automakers, such as Citroen Motors (24% of sales), Sabiel (15%), and Renault (11%). Products include: chassis systems, brake, steering, suspension systems and safety systems such as airbags, security alarms, and seat belts. The deal was the biggest the automotive industry has seen in over a decade.
