Valmet Automotive Group has sold its engineering services business
Valmet Automotive Engineering (VAE) is a leading automotive engineering service provider with specialist know-how in key growth areas such as simulation, testing, electrics/electronics and vehicle development (cars and motorcycles). With four branches in Munich, Wolfsburg, Ingolstadt and Bad Friedrichshall, Germany, the company is located in closest proximity to original equipment manufacturer’s most relevant research and development and testing facilities. In addition, VAE operates a brake testing facility in Spain. It generates approximately Euro 56 million in sales and employs approximately 600 highly educated and trained engineers as well as technicians.
Lincoln International acted as exclusive sell-side advisor to Valmet Automotive Group and orchestrated a successful sell-side auction process, which was executed and closed during the peak of the COVID-19 pandemic.
Valmet Automotive Group is one of the largest vehicle contract manufacturers in the world and a tier-one systems supplier for convertible roof systems and battery systems. In its strategic development, Valmet Automotive Group focuses on electromobility with the development and manufacturing of battery modules as well as packs for electrified vehicles. The activities in the group are organized in three business lines: manufacturing, electric vehicle systems and roof and kinematic systems. Since its founding in 1968, Valmet Automotive Group has produced more than 1.7 million vehicles at the Uusikaupunki, Finland, plant. In Salo, Finland, near the Uusikaupunki plant, the group opened its first volume production of battery systems for the automotive industry in autumn 2019.
Mutares SE & Co. KGaA is a private equity firm based in Munich, Germany. Mutares invests in small and medium-sized companies in special situations with turnover between Euro 50 to 500 million in Europe. The group focuses on operational turnarounds via in-house dedicated teams spanning the entire value chain and their implementation. Mutares was established in 2008 and has continuously developed its portfolio to approximately Euro 1.8 billion in total sales in 2020.
Lincoln was a highly professional and trusted advisor for this important transaction and successfully nurtured a dense field of investors based on which we were able to execute a solid transaction with Mutares. It will enable our engineering business to flourish under new ownership and give our transformation towards electromobility a strong push.
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