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Continental AG Sells Stankiewicz

(Clacton, U.K./Tyres & Accessories) Continental AG has sold Stankiewicz GmbH to the Dutch investor Gilde Buy-Out Fund, headquartered in Utrecht, Netherlands.

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The two parties have agreed not to disclose the purchase price. Stankiewicz belonged to the ContiTech division of Continental AG and was taken over by Continental as a part of Phoenix AG in 2004.  

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“ContiTech is reorienting its core business activities, which is why we decided to sell Stankiewicz GmbH,” says Gerhard Lerch, executive board chairman of ContiTech AG. “This move will have a positive impact for Stankiewicz as well.”

The company, based in Adelheidsdorf near Hanover, is a manufacturer of complete sound insulation systems for reducing external and internal noise on cars and commercial vehicles. In recent years, the company has developed into an international automotive supplier with nine plants in six countries. The company has a workforce of approximately 2,100 employees worldwide and posted sales of 270 million euros.

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Stankiewicz’s general manager, Oliver Hafner, views the sale positively: “We are very confident that, together with Gilde, we are well prepared for the challenges we will face in the coming years. Vehicle acoustics will play an increasingly important role, which presents Stankiewicz with excellent opportunities for further growth.”

Ralph Wyss, managing director of Gilde’s office in Zurich, where the transaction was managed, said: “We wish to welcome Stankiewicz to the Gilde organisation. The purchase is an important step in the expansion of our activities in the automotive sector. Rising demands on comfort will continue to provide innovative companies such as Stankiewicz with good possibilities to sell high-quality acoustics solutions in the future.”

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The sale is also subject to approval by the appropriate antitrust authorities and the supervisory board of Phoenix AG.

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