Admetos Acquires Mahle’s Thermostat Business
Tricon Law provided legal advice to Admetos, a Bavarian investment company, on the acquisition of Mahle’s thermostat business by Admetos. Baker Tilly advised Admetos as well, whereas Mahle was represented by Jones Day.
Mahle’s main business is the sale of components for combustion engine in vehicles. More than EUR12 billion will be recorded as revenue in 2022. The thermostat division, in particular, has 600 employees in six countries. They will all continue to work in their current roles in the newly-merged company.
Admetos, a holding company for industrial and investment activities that is owned by its shareholders, specializes in carving-outs of medium-sized businesses. After the acquisition, Mahle’s thermostat division will be further expanded by Admetos. The deal, which is still subject to approval by regulatory authorities, should be completed in early 2024.
Tricon advised Admetos, with a team headed by partner Hartmut Wolfstadt.