Recaro's car seat-making division has bounced from owner to owner over the past few years. It was purchased by Johnson Controls in 2011, according to The Drive, and sold to a Detroit-based private investment firm called Raven Acquisitions in January 2020. The statement released to announce the sale claimed that Recaro Automotive generated about $150 million in revenues during the 2019 fiscal year.
Founded as a coachbuilder in 1906, Recaro has specialized in sport seats since the 1960s.
The name “Recaro” first appeared in 1963, when German firm Reuterr Carosserie melded its two words into one.
It has supplied seats for a long list of models including numerous new and old BMW and Porsche models, the Alfa Romeo Milano Verde, the Cadillac ATS-V, the Ford Fiesta ST, the Mazda MX-5 Miata, and the Audi R8
If the company you work for gets purchased by an equity firm , otherwise known as a "Vulture Capital" firm , you better start looking for a new job. Every single time this happens, the vulture buyer, empties the bank accounts, sells the assets, and declares bankruptcy.
ReplyDeletehappens all the time with trucking companies and now HVAC companies and ever veterinarian offices.