Bureau Plattner and Chiomenti advised on the transaction.
Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of the Italian business of Tekfor Group, a manufacturer of high-quality components for Tier 1 and Tier 2 suppliers in the automotive industry. With the successful completion of the acquisition, the Italian company will operate and market under the new name PRIMOTECS.
Tekfor S.p.A. is operating two sites, one in Villar Perosa and one in Avigliana with a total of 672 employees and 120 mEUR of annual revenue in 2018. Closing of this transaction is expected in early 2020.
PRIMOTECS employs approx. 670 people and operates two production sites in Northern Italy, where it produces components for use in electric, hybrid and conventional powertrains. The company has established itself as a well-known, profitable supplier within the automotive sector as well as the truck industry and related industries. In financial year 2020, the system supplier expects sales of approx. EUR 120 million with a break-even operating result.
Under the new name PRIMOTECS, which stands for Mobility, Transmission, Engine Components & Solutions, the company will concentrate on the development of the current business, the capitalization of the acquired know-how and acceleration of further collaboration with customers.
Bureau Plattner advised Mutares on the deal with a team led by Massimo Petrucci (Picture) and Andrea Romanò.
Chiomenti advised Tekfor with a team led by partners Giulia Battaglia and Antonio Tavella, assisted by senior associate Corrado Borghesan and associate Marco Pensato.
Involved fees earner: Massimo Petrucci – Bureau Plattner; Andrea Romanó – Bureau Plattner; Giulia Battaglia – Chiomenti; Corrado Borghesan – Chiomenti; Marco Pensato – Chiomenti; Antonio Tavella – Chiomenti;