Transaction

Clearwater advises the shareholders on the sale of a majority stake in Allgaier Group to Westron

Transaction

Allgaier Werke sold a majority stake in Allgaier Group to Westron

Sell-side

Undisclosed

Role

Adviser to the shareholders on the sale of a majority stake in Allgaier to Westron

Sector

Automotive
Industrial & Chemicals

Region

Germany

Clearwater has advised ALLGAIER WERKE GmbH, and its shareholders, the family of Prof. Dr. Dieter Hundt, on the sale of a majority stake in Allgaier Group (Allgaier), one of the market leaders in the automotive industry and provider of custom solutions for the process engineering industry, to Westron Group (Westron).

Founded in 1906 and headquartered in Uhingen, Germany, Allgaier developed from a pioneer in forming and processing technology to an international high performer in its two core business divisions Allgaier Automotive and Allgaier Process Technology. The Allgaier Automotive division is a system supplier for the international automotive industry. The core competencies of this division include body parts and special toolmaking, press shops, the development, testing and manufacture of tank systems, and the car body parts specialist unit. Future technologies include the development of battery housings for hybrid and electric vehicles and a revolutionary and globally patented cold forming process. With its comprehensive know-how, the Allgaier Process Technology division offers customised and innovative solutions for the bulk solids processing industry from industrial washing, drying, cooling, screening, and sorting of bulk materials of all kinds. Allgaier’s 1,700 employees work in direct coordination with their international customers, resulting in innovative and cost-effective solutions. With a total of 12 companies and numerous representative offices worldwide, the group is present both in the traditional industrialised countries and in the emerging international growth markets.

Westron is a Shanghai-based industry group investing in companies that provide advanced solutions in the automotive and technology sector. Their investment strategy focuses on emission reduction, safety improvement, and smart car technologies. Westron holds interests in different companies in China and Germany, with its product portfolio covering chassis, powertrain, and connectivity.

The mutual aim of Westron and Allgaier is to strengthen and expand the Automotive division, including the tool-making operations, and the Process Technology division, along with their various subsidiaries and locations. The Automotive division will be more strongly aligned to customer requirements in today’s globalised world, while the Process Technology division will expand its global sales network and build on its product range and customer base, notably in the environmental and recycling sectors. Markets in China and Asia will play a central role for both divisions. As well as providing financial capital for future growth, Westron will also be involved in the management of the Allgaier Group and bring in their experience in business restructuring, the automotive sector and metalworking.

image 56

I strongly believe that, in Westron, we have found an investor with the experience and financial capital to take the Allgaier Group on to future success and give all our employees a fantastic vision for the years ahead. The meetings to date have been conducted in a trusting and goal-oriented atmosphere, which leads me to believe that the successful development of the Allgaier Group will continue into the future.

Prof. Dr. Dieter Hundt, main shareholder of Allgaier Group
image 56

To us, it was important to find an adviser with a profound understanding of us and our business. Knowing Clearwater from an earlier transaction and remembering their excellent support back then, it was out of the question that they would be the best choice so our business could be presented in the right way. Despite a turbulent time in the wake of the COVID-19 pandemic, the team presented a wide field of potential buyers, and we considered different scenarios for Allgaier’s future. At all stages of the negotiations, the Westron Group were very focused on the needs of our customers, financial partners, staff, and management; they put forward competitive offers in all aspects during the bidding process. The deal meets the company’s goals, and Allgaier Group can now look to the future.

Rolf Graf, CFO and CRO, Allgaier Group

Allgaier Group has an excellent reputation in the automotive, environmental, and recycling sectors, and has shown great resilience in successfully navigating the crises of recent years. Already in 2022, we’re seeing a marked increase in sales and a good volume of orders coming in for both divisions. We want to build on this foundation and further strengthen and develop the Allgaier Group in collaboration with its management, staff, and customers.

Scanny Cai, Partner, Westron Group

We are grateful for the trust that the management and the shareholders of Allgaier have given us in the process. It has been a pleasure to work with all parties in this transaction. The Allgaier team has built an exceptional business over the last 100 years, which has developed into a true market leader in the automotive industry. We are delighted to have found the right partner to support Allgaier in its next phase of growth.

Markus Otto and Tobias Schätzmüller, Managing Partners, Clearwater

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