NICE Holdings Co. becomes new majority shareholder
NICE’s first overseas transaction is the next consequent step to further grow the group’s manufacturing activities and strenghten its metallurgic expertise
Lafayette and Tyrol Equity retain a minority stake and will support NICE to further implement BBS’ growth strategy
Schiltach (Germany), 2nd June 2015 – An investor consortium led by Tyrol Equity and Lafayette Capital has signed an agreement to sell a majority stake in BBS GmbH, a German manufacturer of high- performance alloy wheels, to NICE Holdings, a Korean industrial group listed on the Korean stock exchange. The transaction is subject to relevant regulatory approvals and is expected to be completed within the next months. The parties have agreed not to disclose the transaction value.
BBS is a leading manufacturer of cast high-performance light alloy wheels for premium automotive original equipment manufacturers (OEM), high-end tuning companies as well as the independent aftermarket (IAM). Since its foundation back in the 1970s, BBS covers the entire value-added chain from melting to casting, flow-forming, machining and surface finishing. BBS’ products are 100% designed, manufactured and tested in Germany. In 2014, BBS generated sales of ca. EUR 70 million and maintained a workforce of approx. 430 employees.
“We are very happy to be the new partner of BBS. We are convinced to build a great business success with BBS and are confident that BBS provides NICE with a feasible chance to accomplish unprecedented business success in European markets. Additionally, we will make the best use of the stable financial structure of NICE Group and its strong network in Asia. We will provide the utmost support to BBS for continuous and sustainable growth through market penetration in Asian markets.” says Jin Dong-Hyun, General Director of NICE Holdings.