PHINIA INC. acquires Swedish Electromagnet Invest AB (SEM)

PHINIA INC. acquired Swedish Electromagnet Invest AB (SEM) for approximately $47 million ($15 million cash plus $32 million to extinguish assumed debt), a transaction completed in August 2025, structured as all cash.

Swedish Electromagnet Invest AB (SEM) operates in Fuel Systems, is based in Sweden, had revenue of about approximately $50 million of expected annual revenue (approximately $10 million annual adjusted EBITDA). SEM is a prominent provider of advanced natural gas, hydrogen and other alternative fuel ignition systems, injector stators, and linear position sensors for on- and off-highway commercial vehicle and industrial markets. PHINIA acquired 100% of the issued and outstanding shares; the deal was accounted for as a business combination within the Fuel Systems segment.

Per PHINIA, the acquisition expands its footprint in the commercial vehicle, industrial, and aftermarket sectors and supports its strategy of exploring alternative, zero-carbon and lower-carbon fuels. The company expects SEM to generate approximately $50 million of annual revenue and approximately $10 million of annual adjusted EBITDA.

SEM gives PHINIA a foothold in alternative-fuel (natural gas and hydrogen) ignition and sensing technology for commercial-vehicle and industrial applications, extending the Fuel Systems segment beyond traditional combustion. expanded commercial-vehicle, industrial, and aftermarket footprint; alternative, zero-carbon and lower-carbon fuel technology Fuel Systems segment PHINIA Q3 2025 earnings release (Oct 28, 2025): "Completed the acquisition of Swedish Electromagnet Invest AB (SEM)... for approximately $47 million." The 10-Q noted SEM contributed about $8 million to net sales for the period after close.