LONDON -- A British private equity firm, 3i Group, says it will acquire Hilite International, a U.S.-based maker of components for engines, transmissions and exhausts, for an undisclosed sum.
Hilite, of Cleveland, Ohio, reported sales of $400 million (280 million euros) last year. Customers include Volkswagen AG, Daimler AG, General Motors Co., Chrysler Group and BMW AG.
The company makes hydraulic actuators, variable valve timing devices, transmission valves and aftertreatment components for diesel vehicles.
Hilite has six factories in North America, Europe and Asia.