Stocks
PHINIA Announces Definitive Agreement to Acquire the stoba Group
AUBURN HILLS, Mich., June 30, 2026--PHINIA Inc. (NYSE: PHIN), a diversified, industrial supplier and global leader in the development of fuel systems, electrical systems, and aftermarket solutions, today announced it has entered into a definitive agreement to acquire 100% of the equity interests of the stoba Group, a global technology partner specialized in high-precision components, systems, and customized manufacturing solutions. The proposed transaction is expected to close in the fourth quar
About this update from Phinia Inc.
AUBURN HILLS, Mich., June 30, 2026--(BUSINESS WIRE)--PHINIA Inc. (NYSE: PHIN), a diversified, industrial supplier and global leader in the development of fuel systems, electrical systems, and aftermarket solutions, today announced it has entered into a definitive agreement to acquire 100% of the equity interests of the stoba Group, a global technology partner specialized in high-precision components, systems, and customized manufacturing solutions. The proposed transaction is expected to close in the fourth quarter of 2026, subject to customary regulatory approvals and closing conditions. The stoba Group's precision engineering and advanced manufacturing expertise is expected to complement PHINIA's current portfolio and enhance PHINIA's ability to deliver high-precision components, systems, and integrated solutions globally. PHINIA believes the acquisition will also strengthen supply continuity and resilience, while further expanding PHINIA's capabilities in complex component manufacturing, advanced engineering, and system integration. The acquisition of the stoba Group will broaden PHINIA's presence across a variety of strategic sectors, including passenger and commercial vehicles, off-highway, industrial, capital equipment, semiconductors, and aerospace and defense. Management expects to provide further details regarding the proposed transaction during the Company's second quarter 2026 earnings call on July 30, 2026. Brady Ericson, President and Chief Executive Officer of PHINIA, commented: "The stoba Group is a well-established supplier within PHINIA's ecosystem, and the acquisition marks an important step in enhancing PHINIA's supply chain resilience and product portfolio. The stoba Group brings to PHINIA high-precision engineering and advanced manufacturing expertise that will complement our strengths, expand our portfolio across a variety of applications, and create lasting value for customers and shareholders. We expect to fund the transaction through available liquidity, while maintaining financial flexibility to support our other strategic priorities. We look forward to welcoming the talented stoba Group employees to the PHINIA community and building on our shared commitment to innovation, excellence, and customer success." About PHINIA PHINIA is a diversified, industrial supplier and global leader in the development of fuel systems, electrical s...