Pursuits
China's Joyson Buys Air-Bag Maker Key Safety for $920 Million
- Joyson paying cash in transaction expected during first half
- Private-equity firms FountainVest, Crestview own Key Safety
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Ningbo Joyson Electronic Corp., a Chinese supplier to several of the world’s largest automakers, will buy U.S. air-bag maker Key Safety Systems for $920 million.
The cash transaction is expected to close in the first half of 2016, closely held Key Safety said in a statement. The company’s owners include private-equity firms FountainVest Partners and Crestview Partners.