PREMIUM Equity Partners sells Antennentechnik Bad Blankenburg to Huizhou Desay SV Automotive Co., Ltd.
Strong technological development in car connectivity, smart metering and industry 4.0
Weimar and Frankfurt am Main, 30 March 2019
Funds advised by PREMIUM Equity Partners, Frankfurt, have entered into an agreement to sell 100% of the shares in Antennentechnik Bad Blankenburg (ATBB) to Desay SV Automotive Co., Ltd., Huizhou, Guandong, P.R. China.
ATBB is a highly specialized technology company for intelligent antenna systems. Since the acquisition of ATBB by PREMIUM Equity Partners in 2013, the company strongly focused on the development of solutions and products along megatrends like Autonomous Vehicles and Connected Cars where vehicle connectivity requires reliable and safe transmission of data through high performing antennas. In addition, ATBB showed a strong increase in newly developed markets, like recreational vehicles, smart metering and industry 4.0. The company almost doubled its turnover during PREMIUM’s investment period and moved into a newly built factory in Weimar in 2017, to support further growth.
Desay SV Automotive is a leading and fast-growing Chinese Tier-1 automotive electronics company serving both highly respected Chinese and international OEM's. The acquisition of ATBB will complement Desay SV Automotive’s product and technology portfolio and boost its strategic growth.
“The combination of Desay SV Automotive and ATBB, will promote the development of each company. We are very glad to work with the new colleagues of ATBB to provide more innovative and intelligent automotive electronic solutions and services to global customers", said Mr. Tan Choon Lim, Chairman of Desay SV.
Desay SV Automotive confirms its intent to continue the businesses of ATBB with the complete workforce at the new premises in Weimar as a dedicated self-standing subsidiary, fully managed by its current management team, headed by the CEO Dr. Michael Weber.
Dr. Weber expressed that he and his team are very positive to be part of Desay SV Automotive. "Since the first meeting, the strategic and cultural fit has been excellent. We expect great opportunities in the large and growing Chinese automotive market and together we see the attractive chance to serve the customers best in the upcoming smart antenna architecture and 5G technologies. Together we are capable to speed up innovation and expand both our business in China and Europe".
Marcel van Wijk and Thomas Duhnkrack, founding partners at PREMIUM Equity Partners said „We are very pleased with the overall development ATBB has demonstrated with the development of new intelligent antenna systems, the international expansion by newly founded subsidiaries in Sweden and Turkey and growth initiatives into new markets like recreational vehicles, smart metering and Industry 4.0. We are convinced that under the ownership of Desay SV Automotive, ATBB will show a continued strong growth both in Europe as well as in China.”
Regulatory approval was granted in March 2019, when the transaction was closed.
PREMIUM Equity Partners is an equity investment firm founded in 2011 with a focus on the DACH region where it invests in strong niche companies with sales between EUR 10 million and EUR 50 million. PREMIUM provides capital to the smaller “Mittelstand” to finance growth, ownership succession and spin-offs. For every investment PREMIUM combines its long- term investment and financing expertise with the profound industrial know-how of its industry partners. ATBB is PREMIUM’s third successful exit after the sale of ACTech to the Belgian 3D printing specialist Materialise NV in October 2017 and weka Holzbau to Outdoor Life Group (NL) in October 2018.
Marcel van Wijk
PREMIUM Equity Partners GmbH
60325 Frankfurt am Main
T: +49 69 677 01 677 0
F: +49 69 677 01 677 7
Dr. Michael Weber
Antennentechnik Bad Blankenburg GmbH
In der Buttergrube 3-7
T: +49 3643 / 4771 130
F: +49 3643 / 4771 190