Ahlers & Vogel advises financial investor Comitans on the acquisition of the small-bore pistons business from Rheinmetall
- 21. December 2023
- Posted by: Mutke Müller
- Categories: Corporate Law and Company Law, M&A
Ahlers & Vogel advised Comitans Capital AG on the acquisition of Rheinmetall’s small-bore pistons business.
Comitans and Rheinmetall have signed a sale and purchase agreement for the entire small-bore pistons business of Rheinmetall group.
The purchase agreement encompasses Rheinmetall’s complete small-bore pistons business with all production sites. The plants in Neckarsulm/Germany, Marinette/USA, Celaya/Mexico, Nova Odessa/Brazil, Trmice/Czech Republic, and Hiroshima/Japan as well as two sites of the Chinese joint venture KSHP in Shanghai and Chongqing employ a total of around 3,650 people. Business operations and production are to be continued at all locations.
The target date for completion of the transaction, which is still pending approval from the relevant competition authorities, is 31 March 2024.
Headquartered in Munich, Comitans Capital AG is an internationally active holding company concentrating on companies in the automotive supplier sector, preparing them for sustained long-term growth. Ulrich Hauck, chairman and founder of Comitans Capital AG, sees great potential in Kolbenschmidt Pistons, one of the automotive industry’s foremost piston makers, adding that he and the Comitans team look forward to working with the company’s management and staff.
Comitans was advised by Ahlers & Vogel where the transaction was led by our partner Dr. Carsten Heuel.
- Find the Rheinmetall press release here.
- German newspaper Handelsblatt also adressed this matter in its article which can be found here.
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