Hengeler Mueller advises Dare Group on acquisition of Carcoustics
21. September 2016
Liaoning Dare Industrial Co. Ltd. (“Dare Group”) acquires Carcoustics Group which is based in Leverkusen and manufactures acoustically and thermally effective products for the automotive industry and other industrial sectors. Closing of the transaction is subject to customary conditions and regulatory filings and is expected to take place in the fourth quarter of 2016.
Carcoustics has around 1,800 employees in 10 production plants in 8 countries. Customers include nearly all automotive and truck manufacturers as well as manufacturers of domestic appliance, agricultural machinery, and heating and air-conditioning systems. The annual sales in 2015 amounted to approximately EUR 280 m.
Dare Group is headquartered in Fuxin City/China. Its business covers industrial diesel engines, automotive interior parts, high pressure CNC washing centers, as well as the provision of financial services. Its member company, Fuxin Dare Automotive Parts Co., Ltd., a listed company at the Shenzhen Stock Exchange (China), supplies the automotive industry with power steering pumps, AMT oil pumps, gear pumps, EHPS and DC brushless motors, among others. As a long term strategic investor, Dare Group intends to support Carcoustics’ expansion, especially in China, but also globally.
Hengeler Mueller is advising Dare Group on the transaction. The Hengeler Mueller team includes partners Christian Möller, Changfeng Tu (both Shanghai), Christian Schwandtner (all M&A) (Düsseldorf), Matthias Scheifele (Tax), Hendrik Haag (Capital Markets) (both Frankfurt), Alf-Henrik Bischke (Antitrust, Düsseldorf), counsels Andrea Schlaffge and Patrick H. Wilkening (both IP, Düsseldorf) as well as associates Bernd Dreier, Li Wang (both Shanghai), Tianyuan Zhuang, Anika Gilberg, Vicki Treibmann (all M&A) (all Düsseldorf), Sarah Milde, Philipp Otto Neideck (both Antitrust, Düsseldorf), Martin T. Mohr (Tax, Frankfurt), Deniz Tschammler and Philipp Cramer (both Public Law, Düsseldorf).