Altenloh, Brinck & Co has sold ABC Umformtechnik to FAWER Automotive Parts Ltd. Co. of China
Altenloh, Brinck & Co., headquartered in Ennepetal, Germany, is a diversified fastener group with a 200-year heritage, focusing primarily on fasteners for the construction industry, including the building materials fasteners under the SPAX brand name.
ABC Umformtechnik is a leading European manufacturer of safety-critical fasteners to the automotive industry with revenues of Euro 70 million and 320 employees, operating one plant in Gevelsberg, Germany. The company is the global number one auto wheel bolt fastener supplier, partnering with originial equipment manufacturers (OEMs), such as BMW, Daimler, Porsche and VW Group, as well as several tier-1 suppliers including ZF.
FAWER, based in Changchun, China, and listed on the Shenzhen Stock Exchange, is a state-owned automotive supplier with revenues of Euro 1.2 billion and 7,500 employees. The company specializes in the automotive segments of climate control, chassis, brake, transmission and steering. FAWER is part of the state-owned First Auto Works (FAW) conglomerate, which is one of the top four Chinese auto OEMs.
The acquisition of ABC Umformtechnik is the first cross-border mergers and acquisitions (M&A) deal for FAWER. Through the combination, the company intends to further advance its market development in Europe, while ABC Group aims to further secure the market leadership and international growth of its wheel bolt business.
Lincoln International acted as the exclusive M&A advisor to Altenloh, Brinck & Co, preparing and managing a successful competitive M&A process as well as identifying an ideal partner for the successful future development of the target company.
The transaction was signed in August 2020 and has been closed in January 2021, following regulatory approvals in China and Germany.
Goerg Rechtsanwälte, led by Florian Wolff (Partner), assisted the sellers on the legal side.
The Lincoln International team provided excellent and persistent advice, based on its deep understanding of the automotive sector and specific needs of state-owned Chinese transaction partners.
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