February 1st, 2022, Brno/Czech Republic
Linden Group and SMK are leading suppliers specialized in surface treated plastic parts mainly for passenger cars, truck and industrial applications. Linden Group and SMK have 3 production facilities in Germany (Lüdenscheid, Oberlungwitz) and the Czech Republic (Hustopece).
All three facilities of Linden and SMK will be acquired and continue operations through this asset deal. Around 380 of the approximately 450 jobs will be saved. An employment and qualification company was set up to allow a smooth transformation process.
The insolvency administrator, Dr. Bero-Alexander Lau, from the law firm White & Case was advised and supported throughout the entire transaction process by Falkensteg advisory.
Dr. Lau stated: “We are happy that the strategic investor Winning Group is to acquire Linden Group and SMK. Winning Group will continue the company’s business operations and is capable of further strengthen its market position. I would like to thank everyone involved for their outstanding support and the very constructive and focused discussions. Especially the employees were highly committed in the last months and significantly contributed to the successful transaction. We are convinced that Winning Group is a perfect fit for Linden and SMK and is going to develop the acquisition into a sustainable and long-term success story.”
The purchase agreement is part of Winnings’ strategy to create a diversified multi-technology component supplier and strengthening its automotive footprint offering integrated plastic injection molding and painting/galvanizing solutions to its customers in certain targeted product groups.
“We are very pleased that were able to come to an agreement with the insolvency administration” said Sebastian P. Wagner, CEO and Chairman of the Board of Executive Directors Winning Group a.s., “This purchase is a significant step forward for the Winning Group on its growth path in the automotive sector. We would also thank the customers and supplier for their continued support and patience and explicitly the Linden and SMK work force for its contribution to support the transaction and ensure the turn-around of the operations. We are confident to effectively develop the operations and create a meaningful market share growth.” The purchase illustrates Winning’s focus on innovation in manufacturing and advanced process capabilities and its strategy of diversification.
Winning Group was supported throughout the transaction by Deloitte Legal (lead partners Dirk Hänisch and Charlotte Sander).
The transaction has been closed on February 1st, 2022.
About Winning Group
Winning Group a.s., Brno (CZ) is an industrial group focused on “old economy” markets with the target to create leading companies in automotive and construction. The group was founded in 2016 by Sebastian P. Wagner, who is today its sole shareholder. In the past years Winning Group was capable to grow organic and through acquisitions to an aggregated sales of its group companies and JVs of 350mEUR, employing 1.700 dedicated employees globally.
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