Willi Elbe Group is a leading automotive Tier-1 supplier of highly sophisticated, technologically advanced steering and driveline systems. Building on its world class research and development team, Willi Elbe Group has established itself as a strategic partner to the German premium OEMs such as Daimler, BMW and Porsche. The company generates approximately Euro 180 million in revenues with around 1,000 employees across its eight production sites in Germany, Switzerland, Norway, Bulgaria, China and Mexico.
The sale of Willi Elbe Group to the Munich-based family office, AEQUITA, was the result of a highly comprehensive and competitive sale process led by Lincoln International which included intensive negotiations with Willi Elbe’s key stakeholders, banks, various automotive OEM customers as well as the shareholders.
Alexander Wohak, Managing Director of Willi Elbe Group and part of the third generation of the shareholding family, commented, “I have been truly impressed with Lincoln’s deep automotive know-how and persistence in managing and executing this highly complex sale process. Thanks to the exceptional dedication and commitment of the Lincoln team we were in a position to have various alternatives throughout the entire process resulting in a successful sale to AEQUITA.”
Dr. Julius Beck, Partner at law firm GRUB BRUGGER, responsible for the overall legal framework of this complex restructuring case, added, “The main challenge was to design and negotiate a comprehensive package deal with the support and acceptance of all stakeholders of Willi Elbe. With its vast experience in managing various stakeholders, Lincoln International’s role was crucial in getting this deal done.”
Joerg Brunner, Managing Director at Lincoln International, reflects, “In this temporary period of uncertainty surrounding coronavirus (COVID-19), we are pleased to have successfully completed a transaction in an already challenging market environment for automotive suppliers.”
Lincoln International acted as the exclusive financial advisor to Willi Elbe Group and its shareholders, working closely with the stakeholders of Willi Elbe Group throughout the sale process, including providing advisory expertise and managing the preparatory, marketing, due diligence and negotiation phases of the transaction.