Apollo Funds to Acquire Forvia’s Automotive Interiors Business

Apollo (NYSE: APO) agreed to acquire Forvia's Interiors Business Group in a carve-out to form a standalone global automotive interiors supplier.

Rhea-AI Summary

Apollo (NYSE: APO) agreed to acquire Forvia's Interiors Business Group in a carve-out to form a standalone global automotive interiors supplier. The business supplies instrument panels, door panels and center consoles to major OEMs and has manufacturing and engineering operations across Europe, North America and Asia. The transaction is expected to close in H2 2026 and remains subject to regulatory approvals and employee consultations. Apollo highlighted its automotive investment experience and said its existing automotive portfolio collectively generates $28 billion in annual revenue.

Positive

• Standalone carve-out creates a focused global interiors supplier
• Operations span Europe, North America and Asia across large vehicle programs
• Transaction timing: expected close in H2 2026
• Apollo cites automotive portfolio with $28 billion annual revenue

Negative

• Transaction is subject to regulatory approvals and closing conditions
• Requires information or consultation of employee representative bodies
• Purchase price and detailed financial terms were not disclosed

Argus Apr 27 session

-0.75% close to close Open Argus

Details

News Market Reaction – APO

On Apr 27, the day this news came out, APO closed 0.75% below the previous close.

Data tracked by StockTitan Argus for the Apr 27 session.

Key Figures

Automotive portfolio revenue: $28 billion Automotive employees: 120,000 employees Automotive countries: 50 countries +1 more

Automotive portfolio revenue

$28 billion

Annual revenue generated by existing Apollo Funds automotive investments

Automotive employees

120,000 employees

Headcount across Apollo Funds’ automotive portfolio companies

Automotive countries

50 countries

Global footprint of Apollo Funds’ automotive investments

Investment track record

35 years

Apollo private equity track record duration cited in article

Previous Acquisition Reports

5 past events · Latest: Apr 23

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2. Apr 02

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   Sold Sapphire Gas Solutions from Apollo-managed funds to Antin Infrastructure.

3. Apr 01

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4. Feb 23

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5. Dec 16

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   Agreed to acquire majority stake in French fresh-food retailer Prosol Group.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

carve-out transaction, original equipment manufacturers (OEMs), regulatory approvals

3 terms

carve-out transaction financial

"from Forvia SE (EPA: FRVIA) in a carve-out transaction."

A carve-out transaction is when a company separates and sells or spins off a specific business unit, assets or product line while the original company keeps the rest, like cutting one slice from a cake and offering it on its own. It matters to investors because it can unlock hidden value, change the parent company’s cash flow and risk profile, and create a new investment opportunity with its own growth and profitability story.

original equipment manufacturers (OEMs) technical

"serves a diversified base of leading global automotive original equipment manufacturers (OEMs)."

Companies that design and produce finished products or major components that other brands sell under their own names, such as car makers, computer builders, or appliance firms. Investors care because OEMs control production volume, quality and supply-chain costs, which directly affect revenue and profitability; like the manufacturer behind a popular restaurant chain, their capacity and cost structure determine how well branded sellers can serve demand and make money.

regulatory approvals regulatory

"subject to satisfaction of certain closing conditions, including regulatory approvals"

Regulatory approvals are official permissions from government agencies that a company needs before launching a new product, service, or business activity. They matter because without this approval, the company might not be allowed to operate legally or sell its products, similar to how a driver needs a license to legally drive a car.

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Transaction to Establish Leading Global Automotive Interiors Supplier as Standalone Company

NEW YORK, April 27, 2026 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) today announced that Apollo-managed funds (the “Apollo Funds”) have agreed to acquire the Interiors Business Group of Forvia (“Interiors Business” or the “Company”), a leading global supplier of automotive interior systems, from Forvia SE (EPA: FRVIA) in a carve-out transaction.

The Interiors Business is one of the world’s leading suppliers of automotive interior products including instrument panels, door panels and center consoles, and serves a diversified base of leading global automotive original equipment manufacturers (OEMs). With a global manufacturing and engineering footprint across Europe, North America and Asia, the Company is deeply embedded across a wide range of large-scale vehicle programs and plays an important role in delivering integrated, advanced interior products tailor-made for automotive OEM customers.

Michael Reiss, Private Equity Partner at Apollo, said, “The automotive interiors industry is evolving rapidly as manufacturers increasingly differentiate their vehicles through cabin design, premium materials and new technologies. As an independent company with dedicated leadership and resources, Forvia’s Interiors Business will be well positioned to capitalize on these trends and deliver even greater value to its OEM partners worldwide.”

Claudia Scarico, Private Equity Partner at Apollo, said, “Forvia’s Interiors Business is a well-established supplier in the international automotive supply chain with a global manufacturing footprint and the ability to engineer complex, high quality vehicle interior products at scale. Drawing upon Apollo’s extensive investment experience in the automotive sector and in executing complex carve outs, we are a strong partner to reinforce the company’s leadership position globally. We look forward to supporting the transition to an independent company with a strong strategic focus and foundation for long-term growth.”

Martin Fischer, Chief Executive Officer of Forvia, said: “The Transaction project announced today reflects the strength and leadership of Forvia Interiors, as well as the expertise and commitment of its teams. It highlights the Business Group’s solid industrial base, market positioning and value creation potential. I would like to thank all Interiors employees for their contribution. We believe Apollo has the experience and capabilities to support the Interiors Business Group in its next phase of growth.”

Apollo’s private equity business has a long and successful track record of transforming businesses spanning more than 35 years, including significant experience in the automotive sector. Apollo Funds’ current portfolio of global automotive investments includes Tenneco, TI Automotive and Panasonic Automotive, collectively generates $28 billion in annual revenue with more than 120,000 employees across 50 countries.

The transaction is subject to satisfaction of certain closing conditions, including regulatory approvals and information or consultation of the employee representative bodies, and is expected to close in the second half of 2026.

Kirkland & Ellis LLP served as legal counsel on the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel in connection with the financing of the transaction. UBS AG and UniCredit served as financial advisors.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2025, Apollo had approximately $938 billion of assets under management. To learn more, please visit www.apollo.com.

About Forvia
FORVIA, a global automotive technology supplier, comprises the complementary technology and industrial strengths of Faurecia and HELLA. With over 137,500 people, including more than 12,000 R&D engineers across 40+ countries, FORVIA provides a unique and comprehensive approach to the automotive challenges of today and tomorrow. Composed of 6 business groups and a strong IP portfolio of over 12,000 patents, FORVIA is focused on becoming the preferred innovation and integration partner for OEMs worldwide. In 2025, the Group achieved a consolidated revenue of 26.2 billion euros. FORVIA SE is listed on the Euronext Paris market under the FRVIA mnemonic code and is a component of the CAC SBT 1.5° indice. FORVIA aims to be a change maker committed to foreseeing and making the mobility transformation happen. www.forvia.com

Contacts
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Apollo (APO) announce about acquiring Forvia's Interiors Business on April 27, 2026?

Apollo agreed to acquire Forvia's Interiors Business in a carve-out to form a standalone supplier, expected to close in H2 2026. According to Apollo, the business supplies instrument panels, door panels and center consoles to global OEMs and operates across Europe, North America and Asia.

When is the Apollo acquisition of Forvia Interiors expected to close and what conditions apply?

The transaction is expected to close in H2 2026 and remains conditional on approvals. According to Apollo, closing requires regulatory approvals and information or consultation of employee representative bodies before completion.

What parts of the automotive supply chain does Forvia's Interiors Business serve after the Apollo deal?

Forvia's Interiors Business supplies instrument panels, door panels and center consoles for large-scale vehicle programs. According to Apollo, it serves a diversified base of global OEMs with engineering and manufacturing in multiple regions.

How does Apollo describe its automotive investing experience related to the Forvia Interiors acquisition?

Apollo cited extensive automotive sector experience and prior investments when announcing the deal. According to Apollo, its current automotive portfolio generates $28 billion in annual revenue across more than 120,000 employees and 50 countries.

Were financial terms disclosed for Apollo's acquisition of Forvia's Interiors Business (APO)?

No purchase price or detailed financial terms were disclosed in the announcement. According to Apollo, the statement included advisors and expected timing but did not provide transaction value or price details.