Phinia to acquire Swedish manufacturer of ignition systems for alternative fuels
By Bradley Osborne - 4th July 2025
USA / Sweden – Phinia Inc, a fuel system supplier and parent of the ‘Delphi’, ‘Delco Remy’, and ‘Hartridge’ brands based in Auburn Hills, Michigan, USA, has signed a definitive agreement to acquire Svenska Elektromagneter AB (“SEM”), a longstanding Swedish manufacturer of ignition systems for commercial vehicle, industrial, and offroad applications.
Under the terms of the agreement, Phinia will pay SEK452m (approximately USD47m) to acquire all of the issued and outstanding shares of the holding company, ‘Swedish Electromagnet Invest AB (publ.)’, which owns the SEM business. The transaction is set to close in the third quarter of this year and is subject to customary closing conditions.
