- ISIN NO0012938325
- Country Deutschland
Hörmann Industries GmbH
HÖRMANN Automotive focuses on its key segments and sells another subsidiary
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EQS-News: Hörmann Industries GmbH
/ Key word(s): Strategic Company Decision/Disposal
HÖRMANN Automotive focuses on its key segments and sells another subsidiary
Kirchseeon, 27 September 2023 – HÖRMANN lndustries GmbH (corporate bond, ISIN: NO0012938325) announces that HÖRMANN Automotive GmbH signed a contract on the sale of 100% of the shares in HÖRMANN Automotive Eislingen GmbH (HAE) the previous evening. The sale is to an investment company of Rheingold Capital SE, a group specializing in carve-outs with offices in Germany and the Netherlands. The Rheingold Capital team has extensive experience in developing industrial companies in specific niches and focuses on long-term investments with a sustainable growth approach. The parties have agreed not to disclose the purchase price and the contractual details. The execution of the contract is subject to conditions precedent. The transaction is expected to be closed by the end of October 2023. HÖRMANN Automotive intends to focus on the four largest plants in order to strengthen the division’s sustainable competitiveness in the face of the structural transformation in the automotive supply industry. The Automotive division will focus on the development and production of components and systems for commercial vehicle chassis, body parts and battery carriers. “The decision to sell is the result of a careful examination of a wide range of options and part of the strategic realignment of the HÖRMANN Automotive division,” explains Dr. Michael Radke, CEO of HÖRMANN Group. “Over more than ten years, the approximately 90 employees of HAE have made an important contribution to the reliable supply of our renowned customers in the commercial vehicle industry with a high level of commitment and very good performance. Due to the difficult market environment and high cost pressure, it has unfortunately not been possible to establish a stable earnings and financial position from our own resources, despite the high investments made. We would like to emphasize that HAE will of course continue to meet its obligations to customers and partners based on the agreements reached. The transition to the new owner will be carefully planned and accompanied by HÖRMANN Automotive.” With Rheingold Capital, an investor has been found who has the experience and expertise to further develop the company in the challenging environment, increases efficiency and opens up new growth opportunities. The entire workforce and management will be taken over.
About HÖRMANN Automotive Eislingen GmbH: With its approximately 90 employees, HÖRMANN Automotive Eislingen GmbH specializes in the production of tanks and containers for buses, agricultural and construction machinery, as well as covers and flap systems for buses.
About Rheingold Capital SE: Rheingold Capital is a group of companies specialized in carve-outs with offices in Germany and the Netherlands. The Rheingold Capital team has many years of experience in developing industrial companies in market niches.
About the HÖRMANN Group: Since the company was founded in 1955, the HÖRMANN Group has grown steadily. Under the umbrella of HÖRMANN lndustries GmbH, around 30 subsidiaries operate in the Automotive, Communication, lntralogistics and Engineering business divisions with a high degree of entrepreneurial initiative and independence. The aim of the HÖRMANN Group is to provide customers with specific solutions and services that offer economic advantages and a high level of customer benefit. To achieve this, the HÖRMANN Group, with its approximately 2,900 highly qualified employees, uses all of its broadly diversified and networked knowledge from a wide range of technological fields. In 2022, the HÖRMANN Group generated sales of EUR 686 million. More info: www.hoermann-gruppe.com/en
Contact: HÖRMANN lndustries GmbH
27.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG. |