Paksoy advises H.I.G. Capital on the acquisition of Valeo’s Thermal Commercial Vehicles Division

H.I.G. Capital, a leading global alternative investment firm with $60 billion of capital under management, has closed the acquisition of the Thermal Commercial Vehicles Division from Valeo, with operations covering ten countries worldwide. Headquartered in Germany, the target company is the leading global developer and manufacturer of thermal management solutions for a wide range of passenger buses and coaches (both conventional and electric), as well as refrigerated transportation fleets. It will operate as “Spheros” following closing.

Paksoy is pleased to announce that a team led by partner Stéphanie Beghe Sönmez, together with senior associate Melisa Sevinç Atılganer, acted as Turkish counsel to H.I.G. Capital on this transaction, with Gibson Dunn acting as global counsel.