Endurance Capital leads consortium to carve out Witte Stromberg

Witte Stromberg is an auto parts manufacturer specialising in hinges; it generated a turnover of €41m in 2016.

The company will be renamed Prinz Kinematics after the carve out, the name it traded under prior to integration into the Witte Group in 2005.

The carve-out includes a production site in Stromberg and a hinge production site in Ruse, Bulgaria, as well as a production line in Taicang near Shanghai, China.

AL-KO Kober is manufacturer of caravan chassis and therefore has a strategic interest in the transaction. Chairman Stefan Kober said the company ideally complements its operations and ambitions for growth in the auto industry.

Company
Witte Stromberg joined the group under the name Prinz Witte in 1999. It produces hinges for car doors, hoods and tailgates. The company is headquartered in Stromberg and employs 130 people and generated €41m sales in 2016.

People
Endurance Capital – Ulrich Hofstetter (board member).

Advisers
Company – Helbling Business Advisors (corporate finance); McDermott Will & Emery (legal).

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• Buyouts
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