LIVONIA, Mich.—HDT Automotive Solutions L.L.C. has agreed to acquire Veritas A.G., a German manufacturer of fluid, thermal and sealing management systems, for an undisclosed amount.
The transaction includes all Veritas operating units globally and is expected to close at the end of October, HDT said June 23.
The Livonia-based manufacturer of automotive thermal management systems expects the acquisition to double its size and create a "global leader in fluid handling systems with revenue approaching $1 billion."
The deal also advances HDT's innovative material science and connection expertise across rubber, plastic and metal fluid carrying devices for automotive uses.
Veritas will play an important role in bolstering HDT's expertise in thermal management systems for the growing hybrid and electric vehicle market, said HDT Automotive CEO Patrick Paige.
"With an expanded global footprint and the addition of key expertise in elastomers and plastics, HDT is poised for growth," he said.
Veritas A.G. employs around 4,400 people worldwide at 12 locations in Europe, China and the USMCA (U.S., Mexico and Canada) region.
Its customers include global auto makers such as Volkswagen Group, BMW Group, Daimler, Ford and General Motors, according to HDT.
With this latest acquisition, HDT will have 22 global locations including manufacturing facilities and engineering centers across North America, Europe and Asia.