Burscheid, Germany - Johnson Controls Inc. (JCI) has completed its acquisition of Keiper and Recaro Automotive after antitrust authorities at the European Commission in Brussels gave their approval.
Johnson Controls, which makes seating and automotive parts using polyurethane foam, announced its intention to acquire the companies in December 2010. The EC approved the deal on 17 June 2011, JCI said in a 20 June statement.
The purchase of Keiper includes systems to raise and lower seat heights, adjust seat backs and rear seat latches, and Recaro's automotive seating business includes its sport and racing seats.
The deal includes 4750 employees in 13 locations worldwide. JCI did not disclose any financial details regarding the transaction.
"The acquisition of Keiper and Recaro Automotive provides Johnson Controls with a comprehensive product range in seating components," said Beda Bolzenius, vice president, JCI. "This further complements the acquisition of C. Rob. Hammerstein earlier this year and our existing metals business."
German company Recaro will retain its aircraft seating, child safety and home business units. Also excluded from the deal are Keiper's operations in Brazil.