Fountainvest buys BMTS from Bosch and Mahle

Fountainvest drew equity from its third fund, a buyout vehicle that closed on its hard-cap of $2.1bn in September 2016.

The acquirer will take over the entire business across all locations, including its 1,300 employees, according to a statement.

BMTS generated sales of €373m in 2016, but made a loss of €129m with an EBITDA of -€74m. This was a 41% revenue increase on 2015, when the company generated €263m, and a 21% improvement in EBITDA, which stood at -€94m.

Bosch and Mahle decided to sell the company at the start of 2017, stating that the operation had not yet reached the scale necessary to achieve sustainable success and they did not intend to drive the necessary expansion themselves.

Turbochargers are in high demand due to the development of hybrid cars, supported by the Chinese state. The government aims to increase electric vehicle sales in the country with a target of 20% of car sales by 2025.

Company
BMTS was established in 2008 as a joint venture between Robert Bosch and Mahle. The company develops and manufactures exhaust-gas turbochargers for gasoline and diesel engines, for use in passenger cars and commercial vehicles. The company generated EBITDA of -€74m from €373m in revenues in 2016 and employs 1,300 people. It has operations in Germany, Austria and China.

People
Fountainvest – Frank Tang (CEO).

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• Buyouts
• DACH
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• Germany