STS Group AG: Mutares successfully completes sale of majority stake in STS Group AG to Adler Pelzer Group
DGAP-News: STS Group AG
/ Key word(s): Miscellaneous
Hallbergmoos/Munich, June 30, 2021. STS Group AG (ISIN: DE000A1TNU68), a global system supplier for the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, has been informed that the share purchase agreement signed on 11 March 2021 between Mutares SE & Co. KGaA ("Mutares") and Adler Pelzer Holding GmbH ("Adler Pelzer Group") for the complete sale of the majority shareholding in the amount of approximately 73.25% of the share capital of STS Group AG was successfully concluded today.
Dr Wolf Cornelius, Chairman of the Supervisory Board of STS Group AG: "On behalf of the entire Supervisory Board and the company, I would like to thank Mutares and all employees who have accompanied and shaped the development of STS Group into a global automotive supplier since the acquisition in 2013. We are convinced that Adler Pelzer Group is the right strategic majority shareholder for STS Group to continue to accompany the future growth and strategic direction of the company."
Robin Laik, CEO and founder of Mutares SE & Co. KGaA adds: "STS Group has shown a very positive development over the past months. I am firmly convinced that this successful course will continue with the new owner. We know Adler Pelzer Group as an extremely solution-oriented partner and are certain that we have found the ideal buyer for STS Group to take the company to the next stage of development."
The Adler Pelzer Group is a leading global automotive supplier based in Hagen, Germany. With over 11,000 employees and more than 80 plants on all continents, the group generated annual revenue of EUR 1.2 billion in 2020. With its global footprint and expertise, the Adler Pelzer Group can optimally support the expansion of the STS Group's business in China, as well as in the North American market. For Adler Pelzer Group, STS Group's attractive lightweight solutions for vehicle interiors and exteriors represent a technological diversification to further position itself as a key supplier to its customers. "With the integration of the STS Group, the Adler Pelzer Group is taking the next step towards growth in the field of hard trims, which complements our expertise in soft trim and acoustics," comments Pietro Lardini, CEO of the Adler Pelzer Group.
About STS Group:
|Company:||STS Group AG|
|Phone:||+49 (0)811 124494 0|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1213918|
|End of News||DGAP News Service|