Delfingen has acquired Schlemmer’s activities in Europe and Africa.
Schlemmer was placed in preliminary bankruptcy proceedings on 19 December, 2019 by the Munich Commercial Court, a procedure confirmed on 1 March, 2020.
Schlemmer’s Asian perimeter was sold to its Chinese partner, the Fengmai-Ningbo Huaxiang Group. The acquired perimeter would represent a turnover of around EUR100m, 1,000 people and five factories in Germany, Romania, Russia, Morocco and Tunisia.
The two latter plants are joint ventures. The acquisition enables Delfingen to consolidate its market share in Europe, strengthen its proximity to German car manufacturers and equipment suppliers, and to pool research and development efforts to support the transition of the automotive sector towards hybrid/electric engines.
The operation is mainly financed by debt raised from Delfingen’s current financial partners.
Delfingen had a turnover of EUR230m in 2019, is present in 20 countries with 26 plants and has 3,000 collaborators.
Schlemmer is a German industrial group specialising in cable protection and the manufacture of injection moulded parts for the automotive industry.