WINTERTHUR - Autoneum has completed its €117 million acquisition of the automotive business of Borgers. Originally announced in January 2023, the automotive component specialist has now received all antitrust approvals.
With the acquisition of the long-established German company, Autoneum says it is further expanding its global market leadership in sustainable acoustic and thermal management of vehicles. For Autoneum, the product and customer range of Borgers is to a great extent complementary to its own, particularly the latter's wheel arch liner and trunk liner product lines as well as its truck business.
In the field of textile wheel arch liners, Borgers is regarded as the European market leader while the product range is also distinguished by sustainable and fully recyclable products.
As a result of the deal, Autoneum will take over the assets of the Borgers companies in Germany and the shares in the subsidiaries in France, Poland, Sweden, Spain, the Czech Republic, the United Kingdom and the USA as well as in Shanghai, China.
In the 2022 financial year, the Borgers Group – excluding the mechanical engineering division which sold off in the summer of 2022 – generated expected annual revenue of around €700 million and employed around 4,500 employees worldwide. In total, Autoneum now operates 67 production facilities worldwide and employs around 16 100 people in 24 countries.
Autoneum has agreed new pricing and delivery terms with Borgers’ customers, which will ensure both sustainable profitability and the further development of technologies and processes, the company says. "The acquisition of Borgers Automotive is a significant strategic milestone in the history of the company," said Eelco Spoelder, CEO of Autoneum. "Borgers Automotive has a high level of expertise in the field of sustainable product development. We will gradually
integrate Borgers Automotive into our organization. Autoneum and Borgers are both established suppliers valued by automotive manufacturers worldwide for their quality. I am looking forward to leading them into a successful joint future under one roof. The continuous supply of high-quality products to our customers is guaranteed and will also be a top priority during the ongoing integration process.”
