H.I.G. Capital to acquire Thermal Commercial Vehcles Division from Valeo

H.I.G. Capital announced that one of its affiliates has signed a definitive agreement to carve out the Thermal Commercial Vehicles division from Valeo. The Company will operate under the name “Spheros” following closing. The transaction is expected to close this year and is subject to customary regulatory approvals. Headquartered in Germany, the Company is the leading global developer and manufacturer of thermal management solutions for a wide range of passenger buses and coaches, as well as refrigerated transportation fleets. The Company offers a comprehensive product portfolio, including air conditioning systems, heaters, coolant pumps, and other related hardware.