Whenever a large business makes a move, it attracts attention. This morning (5 Feb 2026), Bloomberg cited sources saying the Juangroongruangkit family is considering selling the "Thai Summit group," with a deal value possibly between 47,677 and 63,570 million baht, or approximately 1.5 to 2 billion US dollars. Several global investment banks have already submitted renewed proposals.
The Thai Summit group was founded by Patana Juangroongruangkit (father of Thanathorn) in 1977. After Patana's passing, Somporn Juangroongruangkit (Thanathorn's mother) took over management, joined by the five second-generation heirs—Thanathorn (who has since resigned from business roles), Sakulthorn, Chanaphan, Rujiraporn, and Bodinthorn—who gradually became involved in running the business.
Today, Thai Summit has become a leading automotive parts manufacturer in Thailand and ASEAN, with over 40 affiliated companies and 26 factories across multiple countries including Thailand, Indonesia, India, China, Vietnam, Japan, and the United States.
Regarding the financials of the main company, Thai Summit Autoparts Industry Co., Ltd. Established over 48 years ago with registered capital of 400 million baht, in 2024 it 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 net profit in 2023, the company has posted profits every year since 2005. The board includes 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 business size, the Thai Summit group has been estimated to have EBITDA of 250 million US dollars (around 7,946 million baht) and annual revenues exceeding 2.6 billion US dollars (approximately 82,641 million baht).
At this point, many might wonder why Thai Summit, a large and profitable business with companies earning hundreds to thousands of millions in profit, is rumored to be up for sale.
Why would a family business consider selling?
According to Bloomberg, the consideration to sell may stem from the Thai automotive industry's need to adapt to a "changing world," including the transition to electric vehicles, new technologies, and the common challenge faced by Asian families in passing businesses down generations.
Several investment banks, including CVC Capital Partners, Warburg Pincus, and Blackstone Inc., have expressed interest and submitted preliminary proposals to acquire Thai Summit. However, no formal deals or bids have been made yet, and the Juangroongruangkit family has not appointed any financial advisors.
Recently, Thai Summit group issued a statement addressing the sale rumors, clarifying that these are untrue. The company emphasized it continues normal operations with stable business performance and takes pride in being a Thai company with leading technology standing strong on the global stage amid changes in the automotive world.
Although Thai Summit quickly denied the acquisition rumors, the larger question remains: where is the traditional oil-dependent automotive industry headed? Will pivoting to electric vehicles suffice to compete with emerging global businesses?
*This report uses an exchange rate of 31.79 baht per US dollar.
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