STOCKHOLM and NEW YORK, Dec. 6, 2023 /PRNewswire/ -- The automotive technology company Veoneer today announced that it has entered into an agreement with an investment fund managed by American Industrial Partners ("AIP"), for the acquisition of Veoneer's Restraint Control Systems business from SSW Partners LP ("SSW").

The transaction with American Industrial Partners Capital Fund VII ("AIP Fund VII") completes Veoneer's and SSW's strategy of finding the right long-term homes for Veoneer's three original lines of business: Arriver™ Software, now owned by Qualcomm; Active Safety, now owned by Magna International; and Restraint Control Systems, to be acquired by AIP Fund VII.

AIP invests in industrial businesses with a long track record of partnering with and growing businesses across industrial end markets, including several investments in the automotive sector. The combination of AIP's process for investing behind operational capabilities and Veoneer's industry-leading position, products, and competence in Restraint Control Systems creates a strong platform for long-term, sustainable growth for Veoneer, its customers, products and people.

"We are pleased to announce this transaction with AIP, who bring a differentiated operating skillset alongside long-term capital that present a compelling platform for Veoneer's future growth," said Jacob Svanberg, Chief Executive Officer, Veoneer. "We are grateful for our loyal customers, supplier partners, and our dedicated employees, whose relentless pursuit of quality and innovation has created a leading platform of life-saving technology."

In April 2022, SSW acquired Veoneer in an all-cash transaction representing a total equity value of $4.6 billion. Qualcomm Incorporated (NASDAQ: QCOM) subsequently completed the acquisition of Arriver™ from SSW. On June 1, 2023 Magna International completed the acquisition of Veoneer's Active Safety business.

Evercore and Morgan Stanley & Co. LLC acted as financial advisors to Veoneer and SSW. Davis Polk & Wardwell LLP and Eversheds Sutherland LLP acted as legal counsels to Veoneer and SSW. Ropes & Gray LLP acted as legal counsel to AIP. Baker Botts LLP acted as regulatory counsel to AIP, Veoneer and SSW.

For more information please contact:                                                                         

For Veoneer:
Thomas Jönsson, EVP Communications & IR, tel +46 (0)8 527 762 27

For AIP:
Ryan Drumm, Partner, Marketing & Investor Relations, tel: +1 212 627-2360

About Veoneer:
With sales of approximately $800 million for the full year 2022, Veoneer is the world leader in Automotive Electronic Safety Systems. Veoneer's scalable, best-in-class restraint control systems are saving lives by mitigating the effects of car crashes. In 2023, the company's products are part of more than 40 scheduled vehicle launches. To date, the company has delivered more than 1 billion electronic control units and crash sensors to car manufacturers globally. The company is building on a heritage of 70 years of automotive safety development. Veoneer Safety Systems has approximately 2,700 employees in 11 countries. 

About SSW Partners LP:
SSW Partners invests in high-quality businesses and collaborates with partners to create enduring value for all stakeholders. We focus on businesses that consistently invest in their products and people, have built their reputations based on the quality of the goods they produce or services they provide, who have demonstrated the capacity for innovation and constant improvement, and who prioritize the interests of all stakeholders, including employees, customers, owners, and the communities in which the businesses operate.

About AIP:
AIP has deep roots in the industrial economy and currently manages over $16 billion on behalf of its limited partners. AIP is distinctively focused on industrial businesses across a broad range of end-markets that include aerospace and defense, automotive, building products, capital goods, chemicals, industrial services, industrial technology, logistics, metals & mining, and transportation, among others. AIP seeks to generate differentiated returns by working with management teams to implement comprehensive Operating Agendas to improve profitability and build long-term value. Current AIP portfolio companies generate aggregate annual revenues in excess of $28 billion and employ over 70,000 employees as of September 30, 2023. For additional detail on AIP's strategy, investment criteria, and portfolio companies, please visit or contact

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