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Stuttgart/Shanghai, 9 August 2021: The AL-KO Vehicle Technology Group has sold its Damping Technology business unit to KW automotive GmbH, based in Fichtenberg, Baden-Württemberg, Germany. With around 250 employees at two sites in Spain and China, this business unit manufactures shock absorbers for heavy commercial vehicles and the passenger car aftermarket. The sale was made as part of AL-KO Vehicle Technology Group's strategic focus on its core business. Financial details of the transaction were not disclosed.
Rödl & Partner advised the client in this transaction with a Chinese expert team, covering all legal and tax aspects regarding the Chinese subsidiary AL-KO Automotive Parts Manufacturing (Ningbo) Co. Ltd. The Rödl team was led by Partner Jiawei Wang (Head of China Practice Stuttgart). Frances Gu, Partner from Shanghai office, was responsible for the tax advisory.
The AL-KO Vehicle Technology Group is a globally active technology group. As a supplier of high-quality chassis and suspension components for trailers, leisure vehicles and commercial vehicles, the group is synonymous with functional excellence, superb comfort and innovations to enhance driving safety. Founded in 1931, the Group today generates sales of around 800 million US dollars with around 3,000 employees and more than 30 sites worldwide. AL-KO Vehicle Technology Group is a wholly owned subsidiary of DexKo Global, a portfolio company of KPS Capital Partners.
Jiawei Wang, Partner (M&A Legal), Project Lead (China), Stuttgart – Legal
Qinglu Shao, Associate (M&A Legal), Stuttgart – Legal
Frances Gu, Partner (M&A Tax), Shanghai – Tax
Judy Zhu, Senior Associate (M&A Tax), Shanghai – Tax
Nikolaus Hofstetter, Partner (M&A)
Dr. Daniel Müller-Etienne, Partner (Tax Law)
Vanessa David, Senior Associate (M&A)
Nadja Vietz, Partner
Christian Krause Moral, Partner
Thomas Becker, Partner
Jiawei Wang, LL.M.
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Frances Gu
