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PARTER CAPITAL GROUP AG

SIGNS AGREEMENT TO ACQUIRE GUARDIAN AUTOMOTIVE BUSINESS IN SPAIN AND GERMANY

03/03/2020
PARTER CAPITAL GROUP AG
  • The transaction, which includes fabrication facilities in Llodio and Valencia, Spain, and a warehouse in Karlsruhe, Germany, will help ensure the long-term success of the business and is considered a positive development for employees, customers and suppliers
  • PARTER Capital Group AG is committed to the future of Guardian Automotive and expressed enthusiasm about the opportunity to work with employees that are part of this transaction
  • This transaction does not include Guardian's float glass facility in Llodio
  • The transaction is subject to closing conditions and regulatory approvals

Llodio (Álava), Spain, February 28, 2020 – Guardian Europe S.à r.l. (“Guardian”) and PARTER Capital Group AG (“PCG”) have announced an agreement for PCG to acquire Guardian´s automotive glass operations in Spain and Germany. The transaction is subject to certain closing conditions and regulatory approvals. 

Guardian Automotive, part of Guardian Europe S.à r.l., offers a full range of premium quality automotive replacement glass which is of OEM-like quality and meets all the required EU standards. It has fabrication plants in Llodio and in Valencia, Spain, and a warehouse in Karlsruhe, Germany.  The agreement does not include Guardian´s float glass facility in Llodio, Spain.

Both PCG and Guardian Europe S.à r.l. are convinced that this transaction will have a positive impact on the business, including its employees, customers and suppliers.

According to Dr. Rüdiger Terhorst, Managing Partner of PCG, "This envisaged transaction represents an important milestone in our strategy of investing in key assets for the automotive sector. The acquisition of Guardian´s automotive business also confirms our enormous confidence in this industry and in the operations, staff and employees".

Guus Boekhoudt, Vice President of Guardian Glass Europe, Russia and Asia Pacific & Managing Director, Guardian Europe S.à r.l. said “Throughout this process, we sought to identify a buyer that had strategic synergies with our existing business. We are pleased to reach this agreement with PCG, a company with an emphasis on entrepreneurship and one aligned with our values”.

Details of the transaction will not be disclosed.