PRESS INFORMATION
July, 30th, 2021
KW automotive Group successfully acquires AL-KO Damping Technology Business Unit
After announcing in June 2021 the purchase of BBS, the renowned alloy wheel manufacturer with more than 260 employees, KW automotive Group continues to grow with the acquisition of the Damping Technology business unit from AL-KO Vehicle Technology Group. With approximately 250 employees at two facilities in Spain and China, the AL-KO Damping Technology business unit manufactures shock absorbers for an array of commercial vehicles with varying body solutions and chassis types. Located in Fichtenberg, Baden-Württemberg, Germany, KW automotive Group further expands its core business through this recent acquisition, and with the completion of another major acquisition this year. In January, Reiger Suspension, the off-road racing damper manufacturer, was also purchased by KW automotive Group. Financial details of the transactions are not yet available. "The business relationship between AL-KO Damping Technology and KW automotive has already existed for a number of years. This transaction offers the opportunity for a technological leap forward, from which our AL-KO product segments will also benefit. KW automotive Group will serve as a home where all employees feel welcomed and are valued as part of the KW automotive Team. We plan to continue to work closely with KW over the long term," said Harald Hiller, President and CEO of the AL-KO Vehicle Technology Group. He added that the AL-KO Vehicle Technology Group itself will focus on its core business, the development and production of high-quality chassis and suspension components for trailers, recreational vehicles, light commercial vehicles and new mobility solutions.  For over 25 years, KW automotive has specialized in the development, production, and distribution of premium suspension solutions for road and motorsport applications. Now, KW automotive benefits from AL-KO's modern production facilities in Europe and China, as well as the Damping Technology business unit's commercial vehicle expertise. "With AL-KO, we gained a team of outstanding experts in the field of damping technology," stated Klaus Wohlfarth, managing partner of KW automotive GmbH. "AL-KO Damping Technology's many years of experience and expertise in industrial production enrich our core business, which we intend to expand even further. With the two manufacturing factories in Europe and China, we simplify and strengthen our supply chains, and share our core values." Aiman Kaamel, Senior Vice President and Head of Business Division AL-KO Damping Technology: "Our entry into the KW automotive Group creates clear synergies and interesting development prospects. Our industrialization expertise combined with the high technological competence of KW's suspension experts will allow us to open up new market segments, and at the same time deliver innovative products to our long-standing customers, among which the AL-KO Group will still be."  KW automotive
Group continues its expansion course and acquires AL-KO's Damping
Technology Business Unit with around 250 employees at two locations in
Spain and China. Klaus Wohlfarth (left), managing director and
shareholder of KW Automotive GmbH, and Harald Hiller, president and CEO
of the AL-KO Vehicle Technology Group, have sealed the takeover.
The perfect suspension for every demand: With its focus on the production of coilover suspensions in batch size one, KW automotive is an innovator in its market. The core business of the KW automotive Group is the development and production of individual suspension systems for the aftermarket and motorsport segments, as well as the accessories program and original equipment for select vehicle models in the automotive industry. In recent years alone, KW has developed over 16 different damping technologies. Wheel spacers, alloy wheels and sim racing simulators for virtual motorsports add to the product portfolio of KW automotive Group. About KW automotive Group KW automotive Group is one of the global market leaders in the segment for individual suspension systems and, in addition to its headquarters in Fichtenberg (Germany), has further production sites in Holland and the USA. KW has its own sales and service subsidiaries in all important global markets. In the USA, the suspension range is expanded with products for pickup trucks under the Belltech brand. With the brands RaceRoom, Ascher and Tracktime, the company is also active in the fast-growing eSports segment and is one of the pioneers in virtual motorsports. KW has also been involved in classic international motorsports for years and regularly celebrates outstanding successes as a partner of the world's most renowned racing teams, most recently at the 24-hour race at the Nürburgring with the victory of the Manthey Porsche GT3. The Reiger Suspension brand, which has been part of the KW automotive Group since the beginning of 2021 and is based in the Netherlands, is the leading supplier of off-road suspensions and was also able to equip the top three teams and, among others, the overall winner MINI in this year's Dakar Rally. The successful integration of BBS, the world's leading alloy wheel manufacturer and OE supplier for numerous premium brands, and the takeover of the AL-KO Damping Technology division in the middle of the year has increased the KW automotive Group to over 1,000 employees, with a sales volume of over 200 million euros. About the AL-KO Vehicle Technology Group The AL-KO Vehicle Technology Group is a globally active technology group. With high-quality chassis and suspension components for trailers, recreational vehicles and commercial vehicles, the group of companies stands for best functionality, highest comfort and innovations for more driving safety. The AL-KO Vehicle Technology Group includes the 14 international brands AL-KO, Aguti, Bankside Patterson, Bradley, CBE, cmtrailer parts, E&P Hydraulics, G&S Chassis, Hume, Nordelettronica, Preston Chassis, SAFIM, SAWIKO and Winterhoff. Founded in 1931, the Group today has sales of approximately $700 million with approximately 3,000 employees and more than 30 locations worldwide. AL-KO Vehicle Technology Group is a wholly owned subsidiary of DexKo Global, a portfolio company of KPS Capital Partners. Publication
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Press contact: KW automotive Group, Press officer Mathias R. Albert, Office: +49 (0) 7576 9616-19, Mail: albert@mediatel.biz KW automotive GmbH, Aspachweg 14, D-74427 Fichtenberg, Tel.: +49 (0) 7971 96 30 – 0, Mail: info@KWautomotive.de Contact and copy address: MediaTel Kommunikation & PR, Haldenweg 2, D-72505 Krauchenwies-Ablach, Tel.: +49 (0) 7576 9616-12, Mail: presse@mediatel.biz |
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