Frankfurt am Main, 24 March 2017
Ludwig & Co. advised UNIWHEELS AG (WSE:UNW) and the Management on the acquisition by Superior Industries International, Inc. (NYSE:SUP) via Superior Industries International Germany AG.
On March 23, 2017 Superior Industries International Germany AG entered into an agreement to acquire a 61.29% stake (7.6 million shares) in UNIWHEELS AG from UNIWHEELS Holding (Malta) Limited for PLN 1.721 billion. The agreement has been reached as a part of tender offer to acquire 100% stake in UNIWHEELS AG. Under the tender offer, Superior Industries International Germany AG wants to acquire the remaining stake in UNIWHEELS AG held by the shareholders apart from UNIWHEELS Holding (Malta) Limited at an revised offer price of PLN 247.87 per share.
Completion of the tender offer is subject to the condition that at least 75% of the outstanding UNIWHEELS shares are tendered. The tender offer is not conditioned on receipt of any antitrust approvals.
The total Enterprise Value of the transaction is approx. EUR 759 million.
Dr. Thomas Ludwig (Managing Director)
Hendrik Becker (Managing Director)
Stefan Maier (Partner)
Esther Becker (Partner)
Thomas Ruland (VP)
Alexander Hix (Analyst)
About UNIWHEELS AG
UNIWHEELS Group is one of the leading manufacturers of alloy wheels in the European aftermarket (Accessory Division) and one of Europe’s largest wheel suppliers to the automotive industry (Automotive Division). UNIWHEELS Group also equips professional motorsport racing vehicle series with high-tech wheels. For more than 40 years, the Group has been producing high-quality aluminium wheels mainly using the low-pressure casting technique. With the global brands of ATS, RIAL, ALUTEC and ANZIO, UNIWHEELS possesses comprehensive knowledge in the accessories market and technical expertise as an original equipment manufacturer in the automotive industry. Furthermore, with its wide range of brands, the UNIWHEELS Group offers wheels for all target groups, from premium to economy. In 2016, UNIWHEELS generated EUR 464.1 million in revenues, an increase of 6.3% yoy. EBITDA grew to EUR 70.2 million, an increase of 19.6%, comparing to 2015. Also EBITDA margin improved by 1.7 pp to 15.1%. Net profit increased to EUR 64.8 mln (+57.5% yoy).
About Superior Industries International, Inc.
Superior Industries International, Inc. designs, manufactures, and sells aluminum wheels to the original equipment manufacturers in North America. It supplies cast aluminum wheels to the automobile and light truck manufacturers. The company was founded in 1957 and is headquartered in Southfield, Michigan.
Superior Industries International, Inc. is listed at the NYSE with a current market capitalization of approx. USD 637 million.