DELFINGEN Industry: DELFINGEN announces the acquisition of SCHLEMMER’s European/African activities
02 September 2020 - 1:40AM
DELFINGEN Industry: DELFINGEN announces the acquisition of
SCHLEMMER’s European/African activities
PRESS RELEASE
Anteuil, September 1st, 2020
DELFINGEN announces the acquisition of
SCHLEMMER’s European/African activities
DELFINGEN, one of the world leaders in the field of electrical
cable protection for the automotive industry, announces the
acquisition of SCHLEMMER’s activities in Europe/Africa. DELFINGEN
achieved a turnover of 230 M€ in 2019, is present in 20 countries
with 26 plants and has 3,000 collaborators.
SCHLEMMER is a German industrial group specializing in cable
protection and the manufacture of injection moulded parts for the
automotive industry. Faced with operational and financial
difficulties, SCHLEMMER was placed in preliminary bankruptcy
proceedings on December 19th, 2019 by the Munich Commercial Court,
a procedure confirmed on March 1st, 2020.
SCHLEMMER’s Asian perimeter was sold to its Chinese partner, the
Fengmai-Ningbo Huaxiang Group.
The acquired perimeter would represent a turnover of around 100
M€, 1,000 people and 5 factories in Germany, Romania, Russia,
Morocco and Tunisia. The two latter plants are joint ventures.
In a difficult market context, this acquisition enables
DELFINGEN to consolidate its market share in Europe, to strengthen
its proximity to German car manufacturers and equipment suppliers,
and to pool research and development efforts to support the
transition of the automotive sector towards hybrid/electric
engines.
This operation is mainly financed by debt raised from
DELFINGEN’s current financial partners.
Gérald STREIT, Chairman and CEO: « Crises can be a source of
opportunity. The current difficult context has nevertheless made it
possible to bring together two historical players in the protection
of automotive wiring at the global level. We become together the
global technical leader in the protection of Harness wiring. We
must continue to grow, innovate and improve our performance while
maintaining our Humanity. Thank you to the teams who made this
merging happen. »
Advice on the operation:
• Transaction: PWC Munich - Frank GIROTTO• Legal: TaylorWessing
Munich - Christian TRAICHEL• Competition: Bredin Prat Paris -
Pierre HONORÉ
DELFINGEN thanks the Moroccan and Romanian antitrust authorities
for their support in the context of COVID-19's complexity.
DELFINGEN, a global leader in protection
and routing solutionsfor electric and fluid
on-board networks
EURONEXT Growth Paris - Code ISIN: FR 0000054132
- Mnemonic: ALDELNext press release: September 11th, 2020 - Net
Sales for 2nd quarter 2020
Contact: Mr. Christophe Clerc : +33
(0)3.81.90.73.00 - www.delfingen.com
- PR_DELFINGEN_Europe-Africa_SCHLEMMER_ACQ
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