American Axle & Manufacturing Holdings (AAM) has agreed to acquire Tekfor Group for EUR125 million.
Based in Hausach, Germany, Tekfor specialises in automotive fasteners and metal formed components for driveline, powertrain, and e-mobility use.
Go deeper with GlobalData
It booked sales of EUR285 million in 2021.
“This acquisition leverages the core strengths of AAM with significant synergy potential, diversifies our geographic and customer sales mix and increases our electrification product portfolio. In addition, this purchase fits nicely with our recent tactical M&A approach,” said chairman and CEO David Dauch. “We are expanding our metal forming technology to serve a broad range of global customers.”
Subject to customary closing requirements, the transaction is expected to close in the second quarter of 2022.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
