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HENDRICKSON Acquires Austrian Frauenthal Automotive Parts Operations

July 7, 2014

Proceeds are expected in the $27 million to $34 million range  

In June 2014, the Austrian Frauenthal Group agreed to the sale of a large part of its leaf spring and stabilizer business, part of Frauenthal’s automotive segment, to TBC Netherlands, an affiliate of Hendrickson Ventures Corporation with headquarters in Itasca, Illinois. According to the share purchase agreement , the buyer will acquire the leaf springs and stabilizers operations in Austria, France and Romania. As part of the transaction, Frauenthal is expecting to receive net proceeds in the range of €20 million to €25 million ($27-34 million).

“With this sale we are consequently following our strategy in the automotive segment to focus on and further expand our product range on air reservoirs, U-bolts and metal parts”, says Martin Sailer, Executive Board Member of Frauenthal Holding AG. Frauenthal Automotive is one of two divisions of the Frauenthal Group and a leading premium supplier and development partner to the European commercial vehicle industry.

Hendrickson is a leading global manufacturer and supplier of heavy-duty suspensions, integrated axle systems, springs and bumpers.