In the latest car parts deal, Avic Electromechanical Systems Co. Ltd. has purchased Hilite International from private equity firm 3i Group plc for €473 million (U.S. $644.1 million).

The target supplies automotive engine and transmission parts for passenger cars and commercial vehicles. Hilite is headquartered in Marktheidenfeld, Germany, and has offices and production plants in North America, Europe and Asia. The company's U.S. locations include a sales and research development center in Orion, Michigan, and development and production sites in Whitehall, Michigan, and Dallas.

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