Clearwater International Germany advises KAP as exclusive financial adviser on the cross-border sale of Geiger Fertigungstechnologie to China-based Zhejiang Tieliu Clutch
Clearwater International Germany has acted as exclusive financial adviser to KAP Beteiligungs-AG (“KAP”) on the cross-border sale of Geiger Fertigungstechnologie GmbH, to China-based Zhejiang Tieliu Clutch Co., Ltd.
GM Tec Industries Holding GmbH, a wholly owned subsidiary of KAP Beteiligungs-AG, has signed a contract for the sale of its majority stake in Geiger Fertigungstechnologie GmbH.
KAP, based in Fulda, Germany, is a listed industrial holding company that provides a broad range of services for its subsidiaries. KAP invests in mid-market companies of various sizes and offers these companies the financial resources and strategic support needed for a successful existence in their respective markets. In December 2016, The Carlyle Group, a global alternative asset management firm, acquired a majority equity position in KAP from its prior owner.
Geiger Fertigungstechnologie GmbH has 50 years’ experience in the production of highly complex turning and milling parts, including all other supporting work processes, and is a recognised partner and preferred supplier of the most important companies in the metal-working industry. Based in Pretzfeld, Germany, the Company has over 300 employees and generated total sales in excess of €50m in 2017.
Zhejiang Tieliu Clutch Co., Ltd. engages in the research and development, manufacture, and sale of clutch products for automobile transmission systems in China. It offers pressure plate and cover, and driven plate assemblies, as well as double acting clutch products. The Company also exports its products to approximately 20 countries internationally including the US, Asia, South Africa and Europe. Zhejiang Tieliu Clutch Co., Ltd. was founded in 2009, is based in Hangzhou, China, and has over 1,100 employees.
The transaction is subject to the suspensive condition of approvals by various regulatory authorities.
The Clearwater International team was led by Tobias Schätzmüller, Managing Partner and International Head of Automotive, in collaboration with Axel Oltmann, Managing Partner and Head of Private Equity Coverage DACH, with support from Christopher Herzog, Associate Director, and from Analysts Julian Feulner and Oleg Artjuschkin.