When a major business moves, it draws attention. This morning (5 Feb 2026), Bloomberg cited sources saying the Juangroongruangkit family is considering selling the "Thai Summit Group" business, with the deal valued between 47,677 and 63,570 million baht, approximately 1.5 to 2 billion US dollars. Several global investment banks have already submitted proposals again.
The Thai Summit Group was founded by Patana Juangroongruangkit (father of Thanathorn) in 1977. After Patana passed away, Somporn Juangroongruangkit (mother of Thanathorn) took over management, joined by five second-generation heirs who gradually became involved in the business: Thanathorn (who has since resigned from business roles), Sakulthorn, Chanaphan, Rujiraporn, and Bodinthorn.
Today, Thai Summit is a leading automotive parts manufacturer in Thailand and ASEAN, with over 40 affiliated companies and 26 factories across several countries including Thailand, Indonesia, India, China, Vietnam, Japan, and the United States.
Regarding the financial statements of the main company, Thai Summit Autoparts Industry Co., Ltd. Established over 48 years ago with registered capital of 400 million baht, in 2024 the company reported total revenue of 3,001 million baht and net profit of 1,749 million baht. Although this is lower than the 2,097 million baht profit in 2023, the company has recorded profits every year since 2005 (with directors including Somporn, Chanaphan, and Sakulthorn).
Several other group companies also posted positive net profits in 2024, such as Thai Summit Harness Public Company Limited (+348 million baht), Thai Summit PKK Co., Ltd. (+295 million baht), and Thai Summit PK Corporation Co., Ltd. (+275 million baht). These companies have registered capital exceeding 300 million baht. To gauge the overall scale, it has been estimated that the Thai Summit Group's EBITDA is around 250 million US dollars (approximately 7,946 million baht), with annual revenue exceeding 2.6 billion US dollars (about 82,641 million baht).
At this point, many may wonder: Given that Thai Summit is a large business with numerous companies earning hundreds to thousands of millions in profit, why is there news about a potential sale?
Why would a family business consider selling?
According to Bloomberg, the reason for considering selling may stem from the automotive industry in Thailand facing a "changing world," including the shift to electric vehicles, new technologies, and the significant challenge for Asian family businesses of generational succession.
Several investment banks have expressed interest and submitted preliminary proposals to acquire Thai Summit, possibly including CVC Capital Partners, Warburg Pincus, and Blackstone Inc. However, none have made official bids yet. The Juangroongruangkit family has not appointed a financial advisor.
Recently, the Thai Summit Group issued a statement addressing the sale rumors, clarifying that these reports are untrue. The company affirmed its operations remain normal, stable, and takes pride in being a Thai company with leading technology capable of competing globally amid automotive industry changes.
Although Thai Summit quickly denied the acquisition rumors, a larger question remains: How will traditional automotive businesses reliant on fossil fuels adapt? Is transitioning to electric vehicles sufficient to remain competitive against emerging global enterprises?
*This report uses an exchange rate of 31.79 baht per US dollar.
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