Deal Announcement 04/14: Automotive
PwC M&A acted as financial advisor to the insolvency administrator of Meteor Gummiwerke K.H. Bädje GmbH & Co. KG on the sale of the assets of Meteor Gummiwerke K.H. Bädje GmbH & Co. KG to Toyoda Gosei Co., Ltd.
The Deal
Meteor Gummiwerke K.H. Bädje GmbH & Co. KG (“Meteor Gummiwerke”) filed for insolvency in 2012. PwC was mandated by the insolvency administrator of Meteor Gummiwerke as exclusive M&A advisor. We conducted a competitive auction process with international strategic investors as well as financial sponsors. The deal with Toyoda Gosei was signed in January 2014 and closed on 30th April 2014.
Meteor Gummiwerke K.H. Bädje GmbH
Meteor Gummiwerke is a key tier-1 supplier of sealing systems to the automotive industry in Europe and the NAFTA region. The company has its core competence in manufacturing complex body sealing systems using innovative EPDM and TPE compounds for extrusion and moulding processes. Meteor Gummiwerke is headquartered in Bockenem, Germany, and operates 4 manufacturing sites in Germany and the United States. The company employs more than 1,000 employees globally.
Toyoda Gosei Co., Ltd.
Toyoda Gosei Co., Ltd. (“Toyoda Gosei”) is a global automotive supplier headquartered in Japan. The firm manufactures sealing products, functional parts, interior and exterior parts as well as safety systems products for the automotive industry and has consolidated sales of € 5.0 billion. Toyoda Gosei employs more than 31,000 employees in 18 countries.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 181,000 employees in 158 countries. Our global network comprises nearly 1,000 M&A professionals all over the world, realizing approx. 300 successful transactions per year. We specialize in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatizations as well as structured financing.
A team of PwC M&A Germany acted as M&A advisor to the insolvency administrator of Meteor Gummiwerke during the sales process of the assets of Meteor Gummiwerke. The following PwC M&A team members were involved for Meteor Gummiwerke:
Martin Schwarzer (Partner), Philipp Gebhard (Senior Manager), Wilfried Böckmann (Senior Manager), Raphael Strzelczyk (Senior Consultant).
