Deal Announcement 08/18: Automotive
PwC acted as the exclusive financial advisor to the TÜV SÜD AG on the sale of 100 % of the shares of APZ Auto-Pflege-Zentrum GmbH to VR Equitypartner GmbH and the management team
Summary
The German PwC M&A team is pleased to announce the successful sale of the Darmstadt-based APZ Auto-Pflege-Zentrum GmbH. The transaction comprises the sale of 100 % of the Company’s shares to VR Equitypartner GmbH and the management team.
The Deal
PwC M&A was engaged to initiate an international sales process in December 2017. Selected strategic and financial investors have been approached. After receiving strong interest from financial buyers with a large number of indicative offers, multiple buyers proceeded into the due diligence process. The share purchase agreement for APZ Auto-Pflege-Zentrum GmbH was signed with VR Equitypartner GmbH on 6 August 2018 and was closed on 31 August 2018.
APZ Auto-Pflege-Zentrum GmbH
The Company, headquartered in Darmstadt, is a German full-service provider of car-related services primarily for car dealerships and OEMs. The service offering contains interior and exterior detailing including a paint shop, car washing, polishing and waxing. Furthermore, the Company offers complementing services, such as shuttle and logistic services as well as damage assessment. The Company’s business model is based on an exclusive network of c. 180 operational fulfillment partners employing c. 1,200 personnel and realizes c. € 50m in revenues.
TÜV SÜD AG
TÜV SÜD is a leading technical service corporation catering to the industry, mobility and certification segments. Its range of services embraces consultancy, inspection, tests and expert reports as well as certification and training.
VR Equitypartner GmbH
VR Equitypartner is one of the leading private equity financiers in Germany, Austria and Switzerland. The Company supports medium-sized family companies on a target-driven basis, underpinned by decades of experience in solving complex strategic financing issues.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 236,000 people in 158 countries. Our global network comprises nearly 1,550 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.
PwC M&A Germany acted as exclusive financial advisor to TÜV SÜD AG and APZ Auto-Pflege-Zentrum GmbH on this transaction. Additional services were rendered by PwC Commercial Due Diligence Services.
The PwC M&A deal team consisted of Martin Schwarzer (Partner), Oliver Boot (Senior Manager), Alexander Knögel (Senior Manager), Christian Gieger (Manager), Niklas Nagel (Senior Consultant), and Sebastian Teller (Consultant).
