Daimler has sold its camper van business Westfalia Van Conversion to Munich-based investment firm, Aurelius. No financial details were disclosed.
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Daimler made the sale because Westfalia is no longer considered core business, reported dpa-AFX. Daimler wants to continue to allow future Westfalia products to be built on Mercedes chassis.
Westfalia has around 230 employees and a turnover of EUR50m. Daimler acquired 49% of Westfalia in 1999 and increased its ownership to 100% in 2001.
Aurelius specialises in acquiring mid-size companies which are no longer part of the core business of the previous owner. It has made five previous acquisitions in the last year. Aurelius said it acquired Westfalia because its sees an opportunity for growth in the under 3.5 tonne camper van market. In a statement it said that demand in this segment is high because vans can be driven with a regular driving licence.
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