Bain Capital Private Equity to sell FTE automotive to Valeo

Bain Capital Private Equity to sell FTE automotive to Valeo

  • June 06, 2016
  • Rematec

Bain Capital Private Equity, one of the world's leading global private investment firms, announced that it has reached an agreement to sell FTE automotive (“FTE” or “the company”) to Valeo Ebern on the 2nd of June, 2016. With the acquisition of FTE, Valeo strengthens its position as clean technology and system solutions provider. The transaction is subject to customary regulatory and anti-trust approvals and is expected to be closed in the fourth quarter of 2016 or the first quarter of 2017.

FTE automotive headquartered in Ebern, Germany, develops, manufactures and sells a comprehensive portfolio of tailored and integrated hydraulic and electro-hydraulic systems for cars and commercial vehicles as well as innovative high technology components for various vehicle transmissions.

Since 2013, FTE and funds advised by Bain Capital Private Equity have been working closely together to further develop the company’s success story. FTE strategically focused on accelerating its growth by further broadening the product portfolio to offer innovative high technology components for the various vehicle transmissions. The company won the 2016 PACE Award (premier Automotive Supplier’s Contribution to Excellence) for its lubrication oil pump and the PACE Innovation Partnership Award for its cooperation with a major German OEM.

Michael Siefke, a Managing Director of Bain Capital Private Equity said, “Under Bain Capital Private Equity’s ownership FTE automotive has shown sustainable growth and strong profitability. Its innovative product portfolio, its diversified customer base and the global outreach give FTE automotive a strong position. With Valeo we have found the perfect industrial partner for FTE to enter the next phase and leverage the enormous potential of future markets such as clean technology. We wish FTE and its employees all the best for a successful future together with Valeo.”

Andreas Thumm, CEO of FTE Automotive Group added: “We would like to thank Bain Capital for its contribution to our business over the years. Our open and trustful partnership has been a key role in the growth and development of the company. Now we are very much looking forward to working with Valeo as industrial partner. The combination of FTE automotive and Valeo is an excellent fit which offers new future opportunities for our company.”

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