SSW Partners rumored to be preparing to sell Venier

SSW Partners, an investment firm founded by three prominent financial executives, will start work on the sale of the remaining business of Swedish auto parts supplier Veoneer, people familiar with the matter said.SSW Partners is working with advisors to prepare the sale process, which could begin in the coming months.

SSW could either sell the entire remaining business to a single buyer, or consider selling the two parts separately, the people said.These assets include the Active Safety segment (providing radar, cameras and lidar) and the Restraint Control Systems segment (including electronics for airbags and seat belts).The timing and structure of transactions are subject to change.

The Venier business could attract interest from rivals and some acquiring companies, according to people familiar with the matter.A representative for SSW declined to comment, while a representative for Venier could not be reached for comment.

Image credit: Veninger

SSW was founded in 2021 by former Lazard investment bankers Antonio Weiss and Josh Steiner and former Goldman Sachs executive Eric Schwartz.Steiner is chairman of the business firm Castleton Commodities International and a senior advisor to Bloomberg LP, the parent company of Bloomberg News.

In October last year, Qualcomm partnered with SSW to acquire Venier for $4.5 billion.Following the acquisition, Qualcomm acquired Venier's Arriver technology business, while SSW worked with Venier's management to acquire the remaining shares of Venier, which it plans to sell.The group beat out an earlier offer from Canadian auto parts supplier Magna International.