The Chinese Zhongding Group, a leading automotive Tier-1 supplier with 14,000 employees and revenues of more than EUR 1.6 billion, has signed a sale and purchase agreement (SPA) for the acquisition of all shares of the Tristone Flowtech Group, a market leading automotive supplier for flowtech solutions. The seller is the BAVARIA Industries Group AG, Munich. The purchasing price to be paid at closing is EUR 170 million. The transaction is subject to the responsible anti-trust approvals.
Headquartered in Frankfurt am Main, Germany (operative holding) and Nantes, France (legal holding) the Tristone Flowtech Group manufactures state-of-the-art flowtech solutions for the automotive industry in the fields of engine cooling, battery cooling, air charge and air intake at nine plants in Europe, Northern America and Asia (see www.tristone.com).
With a compound annual growth rate (CAGR) of approx. 12% over the last years, the highly profitable Tristone Flowtech Group will generate group sales of approx. EUR 250 million in 2016. It employs around 2,500 people worldwide.
With this acquisition, the Zhongding Group further strengthens its global presence and continues its course of growth and success.
Zhongding Group was strategically and commercially advised by Perlitz Strategy Group under the lead of Matthias Litschke, legally by Rittershaus Rechtsanwälte, under the lead of Dr. Claudia Pleßke, managing partner at Mannheim office, and in tax matters by FALK & Co under the lead of Dr. Stefan Tichy, managing partner at Mannheim office. The same transaction team of Perlitz Strategy Group, Rittershaus and FALK & Co already advised Zhongding Group in a number of M&A transactions, such as the acquisition of the AMK Group (Kirchheim/ Teck, Germany), Austria Druckguss GmbH & Co. KG (Gleisdorf, Austria), Federal Mogul Sealing Systems (St. Priest, France), the WEGU Group (Kassel, Germany) and others.
Advisory Team Zhongding Group:
Perlitz Strategy Group: Matthias Litschke (Lead Commercial: Commercial Due Diligence, Risk Assessment), Philipp Hendel (Commercial Due Diligence), Runzhi Xie (Commercial Due Diligence).
Rittershaus Rechtsanwälte: Dr. Claudia Pleßke (Lead Legal: Corporate M&A), Dr. Marc Hauser (Corporate M&A).
FALK & Co: Dr. Stefan Tichy (Lead Tax & Financial).
Perlitz Strategy Group (PSG) is an internationally operating, mid-sized management consultancy based in Mannheim, Germany. PSG specializes in corporate strategy, business development, reorganization/ restructuring, sales management and innovation management. Its industry focuses are the automotive, mechanical engineering, electrical and chemical industries.
Rittershaus is a law firm with offices in Mannheim, Frankfurt and Munich. Mainly specialized on advising medium-sized and large companies. The emphasis of its services are corporate law with a focus on restructuring, M&A, private equity and venture capital transactions, as well as corporate financing and company and asset succession. Other fields of advisory are banking and capital market law, labor law, intellectual property law, public law and IT law.
FALK & Co has been in existence for over 80 years as an independent audit, accounting and tax advisory firm with more than 350 employees throughout 10 national offices. Focuses of the advisory services of FALK & Co are M&A transactions as well as restructuring measures after an acquisition.
Perlitz Strategy Group GmbH & Co KG
Matthias Litschke, phone: +49 (0)621-1504217