Phinia to acquire Swedish Electromagnet Invest for $47M

Phinia (PHIN) announced it has entered into a definitive agreement for Phinia to acquire all of the issued and outstanding shares of Swedish Electromagnet Invest, or SEM. Founded in 1915, SEM is a provider of advanced natural gas, hydrogen and other alternative fuel ignition systems, injector stators and linear position sensors primarily for the commercial vehicle, industrial, and off-highway markets. Under the terms of the agreement, Phinia will pay $47M for the acquisition of SEM, which is expected to generate approximately $50M of annual revenue and approximately $10M of annual adjusted EBITDA. The transaction, which is subject to customary closing conditions, is expected to close in the third quarter of 2025. Phinia expects the acquisition to enhance Phinia’s product portfolio and strategy, enabling the company to explore adjacent market opportunities and provide customers with a wider range of products and turnkey solutions. This move not only strengthens Phinia’s commitment to sustainability but also establishes the company as a key player in the transition towards alternative fuel technologies.