Heuking Kühn Lüer Wojtek advises AL-KO KOBER SE on the acquisition of WITTE Stromberg together with consortium of buyers
March, 2018 - Duesseldorf, Germany
A team led by Munich-based partner Boris Dürr advised AL-KO KOBER SE technology group on the acquisition of hinge technology specialist WITTE Stromberg GmbH, a subsidiary of WITTE Automotive, the automotive supplier for vehicle access systems. AL-KO KOBER takes over WITTE Stromberg together with a consortium of buyers including Endurance Capital AG and a private investor. With the acquisition of this renowned supplier, AL-KO KOBER intends to expand its activities in the automotive sector and grow further.
The acquisition consortium takes over the German production site in Stromberg in Rhineland-Palatinate, the hinge production site in Bulgaria (Ruse), and the production facilities in China (Taicang near Shanghai).
With its Gardentech, Air Treatment, and Automotive divisions, AL-KO KOBER GROUP is one of the global players among German medium-sized companies. The company was founded in 1931 by Alois Kober as a metalworking shop in Kötz near Augsburg. The traditional family-owned company is now operating worldwide.
WITTE Stromberg manufactures hinges for the automotive industry that are used in vehicle doors, tailgates, or bonnets. As part of the spin-off of WITTE Automotive, the company will change its name to Prinz Kinematics GmbH and thus return to its former brand name.
Heuking Kühn Lüer Wojtek regularly advises AL-KO KOBER SE, most recently on the acquisition of the three Automotive, Metal Parts Production, and Railway Technology divisions from Kohl Group AG, Cologne.
Counsel to AL-KO KOBER SE
Heuking Kühn Lüer Wojtek:
Boris Dürr (Lead/M&A),
Daniela Szczesny (Corporate/M&A),
Dr. Reinhard Siegert (Antitrust),
Peter Schäffler (Tax),
Christian Schild, LL.M. (Corporate/M&A),
Dr. Ruth Schneider (Antitrust), all Munich
