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Seating supplier Futuris sold to Adient

Cabin crew: Futuris’ focus has moved from local car-makers to global giants such as Tesla Motors, for whom it supplies a variety of seating systems including the radical ‘monopost’ second row in the Model X.

Futuris’ Australian ties loosen further as Clearlake sells to Adient for $US360m

General News logo28 Sep 2017

- Global automotive seating giant Adient this week announced it had completed its acquisition of the Futuris Group in a $US360 million ($A460m) deal struck with Clearlake Capital Group, the US private equity firm which has spent the past four years restructuring Futuris from an Australian supplier to a global enterprise with few remaining links to its home base.

- Clearlake announced in August that it had made a “definitive agreement” to sell Futuris to Adient after claiming to have executed “a successful restructuring of its operations to transition from an Australian-focused supplier to a global operator with differentiated capabilities and profitable relationships with leading global automotive OEM customers”.

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