Adler Pelzer Group, a worldwide leader in the design, engineering and manufacturing of acoustic and thermal components & systems for automotive, announced today that through its subsidiary HP Pelzer Holding GmbH it has acquired the entire share capital of CAB Automotive Limited from Advancel Limited for an undisclosed amount.
CAB Automotive, a company based in Tipton, West Midlands, United Kingdom, is a world class manufacturer of automotive interior solutions for both vehicle manufacturers and tier 1 suppliers to the automotive sector. CAB Automotive is well positioned among Europe’s premium automakers, including Jaguar Land Rover, Bentley, Aston Martin and McLaren.
Mr. Brian Miles, Cab Automotive Chairman, said “we are pleased to have been acquired by the Adler Pelzer Group. This secures a path for an even brighter future. Our customers will have a greater range of products and technologies to meet their needs. The acquisition also brings further development opportunities for the team and the location. I would also add that we greatly appreciate the contribution the Regional Growth Fund and Sandwell Council have given the organization which has resulted in such an opportunity”. Studio Gaeta and White & Case acted as counsel for the Adler Pelzer Group.
”We are extremely pleased to integrate CAB Automotive team, competences and facility in the Adler Pelzer Group to build further its recognized superior quality, lean manufacturing skills and constant innovation, including high-functionality and first class designs”,
stated Pietro Lardini, CEO of the Adler Pelzer Group. “This is another important step in the development of the Group”, expressed Paolo Scudieri, President of the Adler Group.
HP Pelzer Holding GmbH – Brauckstr. 51 – 58454 Witten – Germany
General Contact: Frédéric Thébaud, +49 173 290 34 08
Investor relations: Wayne Robinson, Deputy CFO, +49 2302 668 500 702
ABOUT ADLER PELZER GROUP
Adler Pelzer Group is a worldwide leader in design, engineering and manufacturing of acoustic and thermal components & systems for the automotive sector. With key value-added activities in-house, we deliver components optimizing acoustic performance and increasing thermal efficiency of vehicles. We engineer products to each specific vehicle need of our customers. Headquartered in Witten, Germany, we have built a network of manufacturing plants, research and design facilities close to the main automotive hubs in the major geographic regions, in more than 70 locations with over 11,000 employees worldwide and sales of 1.3bn€ in 2016.
www.adlerpelzer.com – Envisioning the future
This press release constitutes a public disclosure of inside information by Pietro Lardini, Chief Executive Officer, on behalf of HP Pelzer Holding GmbH, under Regulation (EU) 596/2014 of 16 April 2014.