Deal Announcement 05/22: Automotive & Services Industries
PwC acted as exclusive financial advisor to Kratzer Automation AG, a leading manufacturer of software and automotive test systems, the custodian Axel Bierbach and the chief representative Martin Mucha on the sale of Kratzer Automation’s assets to National Instruments, Inc.
The Deal
The PwC M&A team is pleased to announce the successful sale of Kratzer Automation AG (“Kratzer Automation”) to National Instruments, Inc. PwC M&A acted as exclusive financial advisor to Kratzer Automation AG, the custodian (“Sachwalter”) Axel Bierbach and the chief representative (“Generalbevollmächtigter”) Martin Mucha on this transaction.
Kratzer Automation filed for insolvency under self-administration in November 2021. Axel Bierbach of Müller-Heydenreich Bierbach & Kollegen was appointed as custodian of Kratzer Automation and together with Kratzer Automation management and chief representative Martin Mucha of Grub Brugger a structured, international sale process for all of Kratzer Automation’s assets was initiated. This process was led by PwC M&A.
The deal comprises selected assets of Kratzer Automation AG with several locations and pre-commissioning centres in Germany as well as the shareholdings in its non-insolvent subsidiaries Kratzer Automation Inc. (Detroit, USA), Kratzer Automation Sarl (Paris, France) and Kratzer Automation Co. Ltd. (Shanghai, China).
The asset and share purchase agreement for Kratzer Automation was signed on 29th March 2022 and the transaction was closed on 2nd May 2022.
Kratzer Automation AG
Kratzer Automation is a leading German supplier of test systems and software solutions for the area of electrification. With tailor-made test systems for the automotive industry, Kratzer Automation has served leading automotive OEMs like Volkswagen, BMW and Daimler for over 40 years. Kratzer Automation with several locations in Europe, Asia and America has developed a strong global footprint in recent years. The company was founded in 1980 and is headquartered in Unterschleißheim near Munich, Germany. In 2019, it generated revenues of approx. € 92m with approx. 350 employees.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 295,000 people in 156 countries. Our global network comprises over 2,900 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.
The PwC M&A team was led by Martin Schwarzer (Partner), Thomas Klapsia (Senior Manager), Tobias Joeres (Senior Associate) and Siqi Gao (Associate).
