Desay SV Automotive to acquire Antennentechnik ABB Bad Blankenburg
Desay SV Automotive, a Shenzhen-listed leading automotive electronics specialist, is to acquire Antennentechnik ABB Bad Blankenburg GmbH from the German investment company PREMIUM Equity Partners. Steen Associates acted as sole financial advisor to the board of Desay SV Automotive.
Desay SV Automotive is a worldwide leading player for the intelligent automotive cabin, providing electronic solutions and services for intelligent driving and Internet of Vehicle technologies. The company is headquartered in Huizhou, China, and has long-standing relationships with major OEM customers worldwide including Volkswagen Group, Mazda, Geely Auto, Great Wall Motors, FAW Group. Desay SV Automotive went public the end of 2017 with a market capitalization of € 2.1bn. The company had generated € 783m of revenues in 2017.
Antennentechnik ABB Bad Blankenburg GmbH develops, manufactures and sells high-performance antenna systems. The company has a more than 75-year history and thanks to high research expenditures and investments has consistently moved towards the smart antenna architecture with increasing electronics and software parts.
The acquisition of Antennentechnik ABB Bad Blankenburg GmbH offers Desay SV Automotive an excellent opportunity to broaden its product range and to develop smart antennas, a key technology for future mobile communications, secure data exchange and connected mobility.
CL Tan, Chairman of Desay SV Automotive stated: “Steen Associates was a valuable adviser during the entire process, from identifying the target throughout the due diligence and negotiating the SPA. Their industry knowledge, commitment and transaction experience were critical to secure the acquisition of ABB Bad Blankenburg. The acquisition will enable us to generate advanced solutions in high performing intelligent antennas to serve our customers with leading and cutting-edge technologies in the area of wireless connectivity”
The proposed transaction remains subject to certain regulatory approvals from the German government.
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About Desay SV Automotive
Desay SV Automotive is a Shenzhen-listed leading automotive electronics specialist with a current market capitalization of € 1.4bn and revenues of € 783m. Its products include in-vehicle infotainment system, climate control, driving information display, display system, and driver assistance systems.
About Antennentechnik ABB Bad Blankenburg GmbH
Antennentechnik ABB Bad Blankenburg GmbH develops, manufactures and sells high-performance antenna systems. The company is a certified Tier 1 supplier to manufacturers of commercial vehicles, special vehicles, agricultural vehicles and to the smart metering industry.
About PREMIUM Equity Partners
PREMIUM Equity Partners is an investment company focused to support Small- to Mid-Cap companies in the DACH region with capital and expertise in situations of succession or growth.
About Steen Associates
Steen Associates Ltd., founded in 2005 and present in Germany since 2011, acts as trusted adviser for public and private companies operating in the general industries and the aerospace & defence sector. With offices in London, Frankfurt and Paris, Steen Associate’s European Advisory’s business designs and executes strategic M&A and financing solutions. It combines the breadth of its advisory offering with industry specific insights to achieve a unique understanding and perspective into markets and participants globally.
For more details about Steen Associates please visit www.steenassociates.com.
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