Adient said Monday it has agreed to acquire privately-held Futuris Group for approximately $360 million including the assumption of approximately $18 million of net debt.
Adient said it expects the transaction to add approximately $500 million in revenue on an annual basis. It is expected to be accretive to the company’s adjusted fiscal 2018 earnings per share. Futuris, owned by affiliates of Clearlake Capital Group, is a designer and manufacturer of fully integrated automotive seating and interior systems. The deal is expected to close by end September.