HDT Automotive Solutions LLC has agreed to acquire Veritas AG, an automotive supplier headquartered in Gelnhausen, Germany, with expertise in elastomers, plastics and metal for fluid, thermal and sealing management systems.
Veritas AG employs around 4,400 people worldwide at 12 locations in Europe, China and the USMCA region. Customers include global automakers such as Volkswagen Group, BMW Group, Daimler, Ford and General Motors.
“We are grateful for the commitment of the Veritas team and look forward to starting our work together,” said Patrick Paige, CEO of HDT Automotive. “Veritas will play an important role in expanding our global business, particularly with thermal management systems required for the growing hybrid and electric-vehicle market. With an expanded global footprint and the addition of key expertise in elastomers and plastics, HDT is poised for growth as we continue to serve our global customers now and into the future.”
HDT Automotive is the result of the merger between Huron and Dynamic Technologies. In 2017, Ardian, a private investment house, acquired Dynamic Technologies and merged it with Huron, an existing portfolio company controlled by the Ardian North America direct buyouts team.