After acquiring Italian two-wheeler lighting solutions supplier Triom in December last year, Aurangabad-based Tier I supplier Varroc may now make another acquisition in the lighting space. The company is likely to acquire Visteon’s lighting business.
The value of the deal could be in the range of US $75-100 million, Bloomberg quoted some sources in a report which talked about a possible sale of Visteon’s lighting unit to Varroc. No official comments were available from Varroc or Visteon at the time of filing this report.
However, Tarang Jain, managing director of the Varroc Group, had told Autocar Professional in January that his company was “pursuing two to three opportunities” in the electrical components space. “If all goes well, we may have a deal in three to six months” he had told Autocar Professional.
Varroc is expected to make an announcement about its latest deal later today. Visteon’s lighting unit reportedly had $456 million in consolidated revenues in 2010. About 81 percent of its revenues come from North America and Europe.