· Successful restructuring of the IFA Group lays the foundation for acquisition
· Transaction closing targeted by 31 March 2022
· AEQUITA intends to expand IFA’s leading market position
The shareholders of the IFA Group have reached a binding agreement with the Munich-based family office AEQUITA to take over the drive shaft and joint specialist from Haldensleben in its entirety. AEQUITA will actively accompany the successfully restructured IFA Group on its growth path. The parties have agreed not to disclose details of the transaction, which is to be fully completed by the end of March.
The progress made in restructuring in recent years has sustainably strengthened the operational capacity of the IFA Group. This goes hand in hand with a high degree of innovation, the most notable example being the newly developed half shaft technology, which opens up strategic opportunities for the IFA Group. At the same time, the IFA Group has managed to remain on track in spite of the recent upheavals in the industry as a whole. Sustained, rigorous cost discipline and liquidity management along the entire value chain have also helped to substantially mitigate the negative impacts of the semiconductor crisis, the sharp rise in material prices and supply chain uncertainties. Against this background, the IFA Group entered into an M&A process [initiated by the restructuring trustee Arndt Geiwitz and approved by the major customers and lenders] several months ago under favourable conditions.
“I am very pleased that we have found the ideal new owner for the IFA Group in AEQUITA. The restructuring successes of recent years have played an essential role in gaining a new strategic investor. The IFA Group is very well positioned in the market and AEQUITA will enable it to leverage its growth and innovation potential even more effectively in the future,” said Dr. Arno Haselhorst, CEO and CRO of the IFA Group.
“The IFA Group is a traditional brand in the German automotive supplier industry. Numerous well-known car manufacturers trust the technological expertise and extensive experience of its employees. The important progress made in restructuring now forms the basis for future growth under the leadership of Arno Haselhorst and his management team. We see considerable potential for the IFA Group to further strengthen its globally leading position,” said Christoph Himmel, the Managing Partner of AEQUITA responsible for the transaction.
About IFA Group:
IFA Group is an automotive supplier with eight development and production sites around the world. With a turnover of half a billion euros, IFA is one of the top 50 companies in the German supplier industry. At its locations in Haldensleben, Stuttgart, Ujazd (Poland), Charleston / South Carolina (USA), Novi / Michigan (USA) and Shanghai (China) with 2,600 employees, IFA develops and produces propshafts, sideshafts, joints and components for well-known automobile manufacturers. Customers include BMW, Ferrari, Ford, GM, Mercedes, Porsche and Volkswagen. In addition, the company takes on development services in the areas of drive technology on behalf of industry. Forward-looking research and sustainable development are among the success factors. IFA was privatized in 1992 by the entrepreneur Heinrich von Nathusius.
AEQUITA is a Munich-based family office that invests in special situations such as corporate spin-offs, succession and restructuring situations in Europe. Building on a solid capital base, entrepreneurial expertise and experience as well as a committed partnership approach, the focus is on the acquisition and long-term value development of companies that can benefit from AEQUITA’s operational commitment. To achieve sustainable growth, AEQUITA brings a fresh view and profound know-how to all areas of the business, such as revenue development, production optimization and efficiency enhancing measures. Alongside capital, AEQUITA brings the vision, inspiration and drive to enable each of its businesses to reach the next level in its development and continued success.
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