DELFINGEN enters into exclusive negotiation for the acquisition of SCHLEMMER’s European/African activities
17 Julho 2020 - 3:00AM
DELFINGEN enters into exclusive negotiation for the acquisition of
SCHLEMMER’s European/African activities
PRESS RELEASE
Anteuil, July 17th, 2020
DELFINGEN, one of the world leaders in the field of electrical
cable protection for the automotive industry, has entered into
exclusive negotiation for the acquisition of SCHLEMMER’s activities
in Europe/Africa. DELFINGEN achieved a turnover of 230 M€ in
2019, is present in 20 countries with 26 plants and has 3,000
collaborators.
SCHLEMMER is a German industrial group specializing in cable
protection and the manufacture of injection moulded parts for the
automotive industry. Faced with operational and financial
difficulties, SCHLEMMER was placed in preliminary bankruptcy
proceedings on December 19th, 2019 by the Munich Commercial Court,
a procedure confirmed on March 1st, 2020.
SCHLEMMER’s Asian perimeter was sold to its Chinese partner, the
Fengmai-Ningbo Huaxiang Group.
The acquired perimeter would represent a turnover of around 100
M€, 1,000 people and 5 factories in Germany, Romania, Russia,
Morocco and Tunisia. The two latter plants are joint ventures.
In a difficult market context, this acquisition would enable
DELFINGEN to consolidate its market share in Europe, to strengthen
its proximity to German car manufacturers and equipment suppliers,
and to pool research and development efforts to support the
transition of the automotive sector towards hybrid/electric
engines. The acquisition could be effective within three months,
while the legal documentation is finalized and the conditions
precedent are fulfilled.
If completed, this operation will be financed by debt raised
from DELFINGEN’s current financial partners.
Advice on the operation:
- Transaction: PWC Munich - Frank GIROTTO
- Legal: TaylorWessing Munich - Christian TRAICHEL
- Competition: Bredin Prat Paris - Pierre HONORÉ
DELFINGEN, a global leader in protection and
routing solutionsfor electric and fluid on-board networks
Next press release: August 7th, 2020 - Net Sales
for 2nd quarter 2020
EURONEXT GROWTH Paris - ISIN Code: FR 0000054132
- Mnemonic: ALDELContact : Mr. Christophe CLERC: +33
(0)3.81.90.73.00 - www.delfingen.com
- PR DELFINGEN AE activities Schlemmer acquisition
Delfingen Industry (EU:ALDEL)
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