Autoneum: Takeover of Borgers' automotive bus...

Takeover of Borgers' automotive business

(Source: Borgers)
(Source: Borgers)

On January 6, 2023, Autoneum signed an agreement to acquire the automotive business of Borgers. The transaction is expected to close in April 2023 following anti-trust clearance. The enterprise value paid amounts to €117 million. The transaction will initially be financed through a new credit facility. A capital increase in the amount of approx. CHF 100 million is planned for the long-term refinancing of the acquisition. Artemis Beteiligungen AG, Hegiswil/Switzerland, and PCS Holding AG, Frauenfeld/Switzerland, the 2 largest shareholders of Autoneum Management AG, Winterthur/Switzerland, have agreed to participate in the capital increase in proportion to their current shareholdings.
Borgers SE & Co. KGaA, Bocholt/Germany, specializes in textile acoustics protection, insulation and trim for automobiles. The product and customer range of Borgers is to a extent complementary to the product and customer portfolio of Autoneum. Borgers’ wheel arch liner and trunk liner product lines as well as their truck business optimally complement the product range of Autoneum. Especially in the field of textile wheel arch liners, Borgers is the market leader in Europe. In addition, Borgers’ product range is distinguished by sustainable and fully recyclable products. In fiscal year 2021, the Borgers Automotive Group generated revenue of €610 million with around 4,700 employees. Thanks to Autoneum’s global presence, the Borgers product portfolio adds to the sales potential for profitable growth in the medium term outside Europe.
Autoneum is acquiring Borgers from insolvency and has agreed new pricing and delivery terms with its customers. These will ensure sustained profitability and the further development of product and process technologies in both the short and long term.

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