Lighting manufacturer Osram has completed on the deal to acquire Ring Automotive, following clearance by the Competition and Markets Authority.
The proposed buyout was announced earlier this year, although details of the transaction have not been disclosed. Ring Automotive was previously owned by industrial investment firm Rubicon Partners.
George Skalski, Managing Director of Ring Automotive said of the deal: “Being part of the Osram family offers us incredible opportunities for further global expansion. The synergies are enormous and will help us to continue our innovation leadership together. In the future, our customers will benefit from the many years of experience of both companies”.
“In addition to expanding our aftermarket portfolio, the acquisition of Ring will enable us to tap into additional sales potential and further expand our market expertise. The aim is to use the additional market and customer access and create synergies in the product portfolio and distribution channels,” said Hans-Joachim Schwabe, CEO of Osram Automotive.