Solero Technologies (Solero), with support from Atar Capital, announced it has entered into an agreement to acquire Kendrion’s automotive business.

Solero is a global supplier of transmission solenoids, engine solenoids, stop-start accumulators, and hydraulic control modules with recent development and launches of active suspension and electrification components.

The acquisition would expand Solero’s presence with the addition of five European plants located in the Czech Republic, Germany and Romania, as well as one plant in the U.S. and would double the company’s annual revenue, according to Solero Technologies.

Solero was acquired two years ago by Atar Capital, a Los Angeles-based global private investment firm that prioritizes purpose-driven businesses, with a plan to expand through both organic growth and acquisitions.