ECM acquires Bergmann Automotive

ECM's investment forms part of a succession solution for Bergmann Automotive. The GP plans to support the firm's development into an independent company and its further international growth.

The company will invest in broadening its product development, expanding its production capacities and strengthening its sales efforts.

Bergmann Automotive was acquired by family-owned Bergmann Maschinenbau in 2000, which developed it into a Europe-wide manufacturing business of cylinder liners for the automotive industry. Following the sale, the parent company will focus on engineering through its two divisions, vehicle manufacturing and manufacturing of mechanically treated components.

Bergmann Automotive hopes to benefit from the trend towards lighter aluminium-based engines, it said in a statement. The company estimates that its end-market has grown by approximately 15% annually since 2009 with further growth of 7% per annum expected from now until 2015.

The acquisition of the business was ECM's first investment from its €230m GEP IV fund, which started investing in October 2012.

Company
Founded in Barsinghausen in 1956, Bergmann Automotive supplies cylinder liners used in aluminium engine blocks. The company generated sales of around €40m in 2012 with a historic annual growth rate of approximately 20%. It employs 175 people.

People
Florian Kähler, Axel Eichmeyer and Alexander Schönborn worked on the deal for ECM.

Advisers
Equity – KPMG (Financial due diligence, tax); Allen & Overy (Legal); SJ Berwin (Corporate finance); Rothgordt & Cie (Commercial due diligence).
Vendor – Transfer Partners (Corporate finance); Kapellmann & Partners (Legal).

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