Bird & Bird advises PHINIA on cross-border acquisition of SEM

International law firm Bird & Bird’s cross-disciplinary team lead by Bird & Bird Stockholm has acted as legal counsel to PHINIA Inc. in its definitive agreement to acquire Swedish Electromagnet Invest AB (publ) (“SEM”), a leading provider of advanced ignition technologies for the automotive and industrial sectors.

PHINIA’s acquisition of SEM represents a strategic move to enhance its portfolio of advanced technologies and expand its presence in key markets. The transaction is expected to accelerate innovation and growth opportunities for both companies, leveraging their combined expertise in automotive and industrial solutions.

The Bird & Bird team provided comprehensive legal support throughout the acquisition process, including due diligence, transaction structuring, negotiation of the acquisition agreement, and advice on regulatory matters. The firm’s collaborative approach ensured seamless coordination across legal disciplines and jurisdictions, reflecting Bird & Bird’s strength in handling high-value, multi-jurisdictional transactions.

The Bird & Bird team was led by partner Martin Folke (Corporate/Stockholm), supported by Senior Associate Sofia Ekeryd (Corporate/Stockholm), Associate Kristin Urdal (Corporate/Stockholm), Counsel Erik Holmgren (Corporate/Stockholm), Counsel Caroline Grotenfelt (Corporate/Stockholm), Senior Associate Michael Butler (Corporate/Stockholm), Associate Barbara Barun (Employment/Stockholm), Associate Noomi Jung (Employment/Stockholm)Associate Julia Jansson (Commercial/Stockholm), Associate Ana-Maria Barbu-Nyström (Commercial/Stockholm), Senior Counsel Gunnar Hjalt (IP/Stockholm), Counsel William Schofield (Finland/Finance), Partner John Shi (China/Corporate), managing Associate Amy Yang (China/Corporate) and Partner Morten Nissen (Denmark/Competition).

Martin Folke, partner at Bird & Bird and co-head of the Stockholm office, commented:

“We are proud to have supported PHINIA in this transformative cross-border transaction. Our team’s deep understanding of the automotive and technology sectors, combined with our experience in complex M&A, enabled us to deliver tailored solutions at every stage of the process. This deal highlights Bird & Bird’s commitment to guiding clients through strategic transactions that shape the future of their industries.”

The transaction remains subject to customary regulatory approvals and is expected to close in the coming months.