Liaoning Dare Industrial Company LTD. (“Dare Group”) acquires the medium-sized supplier Carcoustics which is based in Leverkusen and manufactures acoustically and thermally effective products for the automotive industry and other industrial sectors. The transaction has been signed. Closing is now subject to customary conditions and filings with responsible authorities. The closing is expected to take place in the fourth quarter. Dare Group's business covers industrial diesel engines, automotive interior parts, high pressure CNC washing centers, as well as the provision of financial services. Through its member company Fuxin Dare Automotive Parts Co., Ltd., a listed company in Shenzhen Stock Exchange of China, Dare Group supplies the automotive industry with power steering pumps, AMT oil pumps, gear pumps, EHPS and DC brushless motors, among others. Key customers include GM, BAIC Group, Iveco, Nissan as well as SAIC Group. Dare Group is a long term strategic investor seeking to support Carcoustics’ expansion particularly in China but also worldwide. Together the companies can benefit from synergistic effects worldwide.
Together with the executive board CEO Dr. Peter Schwibinger and CFO Georg Brasch, Dare Group wants to continue the Carcoustics corporate strategy. “Dare Group is committed to work with the incumbent management to speed up Carcoustics’ growth in China by leveraging Dare’s industry resources with OEMs in China. In addition, Dare is prepared to support Carcoustics to continuously enhance its capability to expand worldwide.” said Mr. Li Yi, Chairman of Dare Group. “We are pleased that the sale process has been concluded successfully and that we have again a competent partner with whom we can pursue the growth of Carcoustics as a top tier supplier to the global automotive sector as well as to the industrial solution and commercial vehicle sector.” said CEO Dr. Peter Schwibinger. Mr. Harald Graf, chairman of the advisory board, adds: "With this transaction, the continuation of the success of Carcoustics has been solidified. We would like to thank AlpInvest Partners for the support during many years and wish Dare and the management of the company all the best with the further development of Carcoustics."
Carcoustics is expanding its innovative business all over the world. Customers include nearly all automotive and truck manufacturers as well as manufacturers of domestic appliance, agricultural machinery as well as heating and air-conditioning systems. The annual sales in 2015 amounted to approximately 280 million euro. With approximately 1.800 employees, 10 production plants in 8 countries and innovative product solutions Carcoustics is well positioned for the rapidly changing challenges in the served sectors.
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