LONDON -- A private equity firm in Britain, 3i Group, says it will acquire Hilite International, a maker of components for engines, transmissions and exhausts, for an undisclosed sum.
Hilite, of Cleveland, reported sales of $400 million last year. Customers include Volkswagen AG, Daimler AG, General Motors, Chrysler Group and BMW AG.
The company makes hydraulic actuators, variable valve timing devices, transmission valves and aftertreatment components for diesel vehicles.
Hilite has six factories in North America, Europe and Asia.