The AL-KO Vehicle Technology Group has sold its Damping Technology business unit to KW automotive GmbH, based in Fichtenberg, Baden-Württemberg, Germany. With around 250 employees at two sites in Spain and China, this business unit manufactures shock absorbers for heavy commercial vehicles and the passenger car aftermarket. The sale was made as part of AL-KO Vehicle Technology Group's strategic focus on its core business. Financial details of the transaction were not disclosed.
The AL-KO Vehicle Technology Group is a globally active technology group. As a supplier of high-quality chassis and suspension components for trailers, leisure vehicles and commercial vehicles, the group is synonymous with functional excellence, superb comfort and innovations to enhance driving safety. Founded in 1931, the Group today generates sales of around 800 million US dollars with around 3,000 employees and more than 30 sites worldwide. AL-KO Vehicle Technology Group is a wholly owned subsidiary of DexKo Global, a portfolio company of KPS Capital Partners.
Wendelstein (Frankfurt) advised on the transaction as lead counsel in an integrated team. The team consisted of partners Nikolaus Hofstetter (M&A) and Dr. Daniel Müller-Etienne (tax law) as well as senior associate Vanessa David and associates Sina Becker, Maria Winkler, Dennis Baron, Laura Hain, Jona-Marie Winkler and Lukas Fleck (all M&A).
With regard to IP and IT law issues, Wendelstein involved Lexantis (Cologne) with partner Thomas Becker.
With regard to Spanish law issues, Wendelstein involved Monereo Meyer Abogados (Madrid, Barcelona), led by partners Nadja Vietz and Christian Krause Moral.
On Chinese law issues, Wendelstein was supported by Rödl & Partner (Stuttgart, Shanghai). The team consisted of Partner Jiawei Wang and Associate Qinglu Shao.
Wendelstein is an independent law firm specializing in business law. Wendelstein advises in particular on M&A, corporate law, litigation and arbitration, restructuring and insolvency, finance, real estate, capital markets and tax law. For further information regarding Wendelstein please refer to www.wendelstein.com.