PLYMOUTH, Mich., Aug. 21, 2017 /PRNewswire/ — Adient PLC. (NYSE: ADNT), the global leader in automotive seating, announced today it has signed a definitive agreement to acquire Futuris Group. The purchase price is approximately $360 million including the assumption of approximately $18 million of net debt. Privately held Futuris is headquartered in Oak Park, Michigan.
Adient expects the transaction to add approximately $500M in revenue on an annual basis. It is expected to be accretive to Adient’s adjusted fiscal 2018 earnings per share.
Futuris, owned by affiliates of Clearlake Capital Group, is a global designer and manufacturer of fully integrated automotive seating and interior systems. It operates 15 facilities in North America and Asia.
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