REGE Motorenteile GmbH & Co KG (Germany) - Jan 2008

unquote
01 January 2008

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EquiVest, managed by CBR Management GmbH, has acquired REGE Motorenteile GmbH & Co KG from parent company Schaeffler AG for an undisclosed amount. The deal was signed end of December 2007, and closed on 31 January 2008. Sal. Oppenheim, represented by Dr Willenbockel, ran the auction. Central to winning the deal was the business model and industry experience of EquiVest, which focuses on buy-and-build and organic expansion. The investor anticipated a consolidation in the automotive sector and sees the company well-positioned to take advantage of this trend. The technical expertise of the company in regards to emission and noise reduction and high quality engine parts was the central factor that attracted the investor.

Debt

HSH Nordbank provided the financing which was described as conservative.

Company

REGE manufactures parts for the automotive industry and is based in Herzogenaurach. The company has two manufacturing plants in Eisenach and Witzenhausen, and a subsidiary in Romania, that employ a total of 1,290 staff. The company was founded in 1987 and reported a turnover of €150m in 2004, €130m in 2005, €150m in 2006, €165m in 2007, and expects a turnover of €200m in 2008.

People

Dr Peter Brock and Christoph Schubert handled the transaction for CBR Management GmbH.

Advisers

Vendor - PricewaterhouseCoopers, Birthe Goertz, Clive Adendorff, Dirk Tismer, Marco Schiffer (Financial Due Diligence)Vendor - Sal Oppenheim, Willenbocke (Other Consultant)

Sourced from: Deutsche unquote" 96 (Mar 2008)