International law firm Addleshaw Goddard has advised the owners of Alfmeier Präzision SE on the sale of its automotive business to NASDAQ-listed US-based Gentherm Inc.
The transaction volume amounts to €177.5 million. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2022.
The Alfmeier Group is an internationally oriented manufacturer of precision components for the automotive industry and market leader in seating comfort (lumbar and massage comfort solutions). Alfmeier's automotive business generated sales of 232 million euros in 2021. Across the group, approximately 2,200 people are employed in Germany, the United States, the Czech Republic, Mexico and China, the company is headquartered in Treuchtlingen, Germany.
Gentherm is a US automotive supplier and medical technology manufacturer based in Northville, Michigan. The company's primary automotive products include variable temperature climate control seats and heated automotive interior systems. Gentherm employs more than 10,000 people at 23 locations worldwide.
"I am looking forward to combining two unique system design companies with integrated hardware and intelligent software," said Andreas Gebhardt, CEO of Alfmeier. "As part of Gentherm, Alfmeier will be able to deliver a superior passenger experience through highly cost-effective systems on a much larger scale," Gebhardt added.
Addleshaw Goddard: Dr Hubertus Schröder (corporate/M&A, lead), Nadine Bourgeois (financing), Dr Maximilian Karacz (corporate/M&A), Al Mangan (antitrust/regulation, London), Stefan Bauer (antitrust/regulation), Matt Butter (compliance, Edinburgh), Dr Natalia Ilyevich (corporate/M&A), Yael Karck (financing), Ole Panzer (financing), Jens Peters (labour law), Yves-Alexander Wolff (data protection/IP).
Meyerhuber Rechtsanwälte (Ansbach): Dr. Malte Schwertmann (Corporate Law)
Grünecker Rechtsanwälte (Munich): Dr Ulrich Blumenröder (IP)
PKF (Heidelberg): Franz-Josef Appel (Tax)