PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

StarCo divests major parts of aftermarket business to German Bohenkamp

Clearwater International Denmark has acted as financial advisor to the owners of StarCo in the divestment of major parts of their aftermarket business to German Bohnenkamp.

The StarCo Group has been family owned and expanding for more than 55 years. Today, StarCo has more than 700 colleagues, is represented throughout Europe and has an international manufacturing, assembly and distribution setup. The company delivers tyre and wheel solutions for a wide range of applications worldwide to manufacturers and aftermarket customers – from the smallest wheelbarrow tyre to the largest agricultural or industrial wheels. The StarCo Group had a turnover of more than 140 million Euro in 2015.

Founded in Osnabrück in 1950, the Bohnenkamp Group is a European wholesaler and distributor of tyres and wheels for equipment in the agricultural, industrial and earthmoving industries as well as for trucks and trailers. Bohnenkamp AG will take over StarCo’s Eastern Group (Russia, The Baltics,Ukraine etc.) and StarCo’s aftermarket business in Scandinavia, Benelux and Germany. With this step, Bohnenkamp will significantly extend its product range in small tyres, and will increase its market for its existing products. At the same time, StarCo will take over Bohnenkamp’s original equipment business in ‘passenger car trailer tyres’ in Germany and Slovakia, thereby significantly strengthening its existing range in this key segment. StarCo will continue their aftermarket business in the UK, France, Poland, Switzerland and South Africa as before. Take-over of operational business is planned for 1 July, subject to approval by the relevant authorities.

“We are delighted to have advised StarCo on this complex transaction, with divestment and de-merger of several entities in 10 different countries (Denmark, Germany, Russia, The Baltics, Belgium etc.). The divestment included a major part of the aftermarket business of StarCo Group, a business area with global presence and attractive margins. We are certain that both StarCo and Bohnenkamp will benefit from the transaction, and we wish them all the best in the future.” 

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured