Raubach – Funds advised by Gilde Buy Out Partners (“Gilde”) are pleased to announce the acquisition of Gundlach Automotive Corporation (“GAC” or the “Group”) together with management from companies controlled by Pon Holdings B.V. (“Pon”). The terms of the agreement have not been disclosed.
GAC is a leading aftermarket distributor of tires, rims, completely fitted wheels and related services to car dealerships and wholesalers in Germany as well as wheel assembly services to blue-chip car OEMs in Europe. The Group was formed under the successful leadership of the senior management team of Reifen Gundlach to form a leading European platform in 2017. GAC now encompasses Reifen Gundlach (a leading brand for premium tire and wheel distribution for over 45 years), PTG Automotive Solutions and Services (just-in-sequence wheel assembly for car OEM production), RG Automotive Solutions (winter wheel assembly services for OEM brands) as well as Euro Tyre (global tire purchasing organization) and Goodwheel (eCommerce tire platform). Operations are based in Germany, Austria, Hungary, Slovak Republic, Sweden and the Netherlands.
Commenting on the transaction Gebhard Jansen, CEO of GAC, says: “We thank Pon for the fruitful cooperation under their period of ownership and we are proud of the over 650 employees to be part of our Group and with whom we look forward to jointly enter a new chapter in our success story. With Gilde we found a strong partner to continue and accelerate our growth strategy to become the leading player in the tire and wheel distribution market.”
Rogier Engelsma, Partner at Gilde, added: “GAC represents a very attractive opportunity for us to invest in a leading player in the European tire and wheel distribution market. We are impressed with the Group’s track record of consistent growth and its unique set up to serve multiple levels within the supply chain. GAC is in an excellent position to further build on this solid foundation and to become the number 1 integrated player in the European tire and wheel distribution business. We are excited to support GAC during this next phase of development.”
For further information please contact:
About Gundlach Automotive Corporation
GAC is a leading European aftermarket distributor of tires, rims, completely fitted wheels and related services well as wheel assembly services to blue-chip car OEMs. Headquartered in Raubach and employing over 650 people, the Group is active in six countries, including Germany, Austria, Hungary, the Slovak Republic, Sweden and the Netherlands.
For more information visit
www.reifengundlach.de
www.ptg-automotive.com
www.euro-tyre.com
www.goodwheel.de
About Gilde Buy Out Partners
Gilde Buy Out Partners is a leading European private equity investor with offices in Zurich, Frankfurt, Utrecht and Brussels. With EUR 1.1 billion, Gilde Buy-Out Fund V, the most recent fund, is among the largest dedicated mid-market buy-out investment funds in Europe.
Gilde controls majority shareholdings in Caseking, Elcee Group, Veco Precision, Esdec, ZND, Albelli, Oystershell Laboratories, Losberger De Boer, Amor, Agilitas, Royal Reesink, Comcave, TMC, Royal Ten Cate, Enkco, Eismann, Teleplan and Powerlines.
For more information visit www.gilde.com