Prettl and Trilantic Capital Partners Europe Announce a Partnership Agreement
Prettl Group (“Prettl”), a German Mittelstand family-owned group of industrial businesses active in the automotive, electronics and energy sectors and Trilantic Capital Partners Europe (“Trilantic Europe”), a private equity firm focused on mid-market transactions in Europe, announced today the closing of a partnership agreement regarding Prettl’s Automotive Sensor Wire Harness business (“Prettl SWH” or the “Company”).
Prettl SWH, which has grown revenues by an average of 20% per annum over the past five years, is ideally positioned and looking to further accelerate its expansion in the sensor wire harnesses sector. The transaction and partnership between Prettl and Trilantic Europe will help reinforce and support the Company’s growth ambitions via relevant strategic initiatives. The Prettl family remains majority shareholder of Prettl SWH and will continue to be a driving force behind the Company’s success.
Prettl SWH is specialised in the design and assembly of cable solutions for the automotive industry. Headquartered in Pfullingen (Baden-Württemberg, Germany), it has approximately 5,800 employees based in 15 locations in 12 countries serving a global customer base of Tier 1 automotive suppliers. The sensor wire harness business comprises the production of high quality specialty sensor wire harnesses, which are used in various automotive applications including but not limited to exhaust systems, steering systems, ABS systems and airbags. The Company is also assembling wire harnesses for batteries and drive units in the area of E-Mobility.
Trilantic Europe’s investment in Prettl SWH is another example of the firm’s approach of focusing on proprietary and primary investment opportunities, identifying growth companies with an international footprint and opportunities for further expansion, as well as partnering with high-profile entrepreneurs and family businesses.
Matthias Weber, CEO Prettl SWH, said: “Together with Trilantic, we will significantly strengthen the Company’s position and achieve our ambitious goals on a global level. We view this partnership as the way into a successful future which promises above-average growth, expansion of the Company’s activities into new markets such as electric mobility and driver assistance systems as well as the continuous strengthening of our core business. We strongly believe the chosen path provides significant benefit to both our customers and employees.”
Henrik Bodenstab, Partner at Trilantic Europe, said: “We are excited to partner with the Prettl family and the Company’s management team who have done an outstanding job in building a global business with a strong reputation in terms of quality, safety and reliability.”
Financial details for the transaction were not disclosed.
Grant Ringshaw, Agnès Riousse
Citigate Dewe Rogerson – +44 207 638 9571
Notes to editors
About the Prettl Group
The Prettl Group is a successful, internationally active, group of companies. Together, PRETTL Produktions Holding GmbH, PRETTL Beteiligungs Holding GmbH and the PRETTL Foundation serve four business divisions: Automotive, Electronics, Energy and Strategic Build-up. The group operates globally through 33 sites in over 25 countries. The companies in the group are fully independent with maximum entrepreneurial freedom. Strategies, customers and markets are determined by the companies themselves.
About Trilantic Capital Partners Europe
Trilantic Europe is a private equity firm focused on control and co-control investments in Western Europe. Trilantic Europe employs flexible transaction structures and has a strong heritage of partnering with family-owned businesses as well as providing growth capital to outstanding management teams. Trilantic Europe are differentiated from our competition by the firm’s history of disciplined, successful investing, the demonstrated capability to supply flexible and growth capital and to be true partners with the management of our portfolio companies. The firm often applies a “buy in” not “buy out” approach and is determined to deliver value both to the Limited Partners and the management teams that it supports. Trilantic Europe’s primary investment focus is in the consumer & leisure, industrials, TMT, business services and healthcare sectors.