SSW Partners Prepares Auto Supplier Veoneer for Sale

(Bloomberg) — SSW Associates, a closely held investment decision company founded by 3 massive-name money executives, is established to kick off the sale of the remainder of Swedish automotive provider Veoneer, in accordance to persons with knowledge of the matter.

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The organization is doing the job with advisers to put together the income procedure, which is most likely to start out in the coming months, explained the individuals, who asked not to be discovered simply because they weren’t licensed to communicate publicly.

SSW could market the complete enterprise to a person buyer or think about divesting the two pieces individually, the men and women mentioned. The belongings incorporate the lively-basic safety device, which materials radars, cameras and lidar, and the restraint-control units device, such as electronics for airbags and seat belts. The timing and structure of any offer could improve, they explained.

SSW was started in 2021 by former Lazard Ltd. bankers Antonio Weiss and Josh Steiner as nicely as former Goldman Sachs Team Inc. govt Eric Schwartz. Steiner is chairman of Castleton Commodities Worldwide and a senior adviser at Bloomberg News mother or father Bloomberg LP.

The Veoneer organization is most likely to entice curiosity from rival automotive suppliers as nicely as some buyout companies, the individuals stated.

A consultant for SSW declined to comment, while a representative for Veoneer couldn’t be attained for comment.

Qualcomm Inc. partnered with SSW in Oct to get Veoneer non-public for $4.5 billion. The US chipmaking giant took the Arriver engineering business, even though SSW worked alongside Veoneer administration, led by Chief Govt Officer Jacob Svanberg, to purchase the relaxation of the Swedish firm with ideas to sell it onwards. The team trumped an previously supply from Canadian automobile provider Magna International Inc.

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