Ropes & Gray represented affiliates of American Industrial Partners in entering into a definitive agreement to acquire Veoneer’s Restraint Control Systems business from SSW Partners.
The transaction was announced in a Dec. 6 press release and the terms were not disclosed. Veoneer is a world leader in electronic automotive restraint control systems and has sold more than 1 billion electronic control units and crash sensors. The company has approximately 2,700 employees in 11 countries.
AIP is a middle market private equity firm focused on industrial businesses. The firm manages over $16 billion on behalf of its limited partners and invests in the aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals and mining, transportation and other sectors.
The Ropes & Gray team was led by private equity partners Todd B. Kornreich and Dan Evans, finance partner Dan Coyne, tax partners Tristan Evans-Wilent and David Saltzman, executive compensation & employee benefits partner Allie Alperovich, real estate partner Peter Alpert, employment partner Richard Kidd, ESG partner Michael Littenberg, and litigation & enforcement partners Randy Bodner and Amanda Raad.