EIGHT ADVISORY Germany supported DUBAG and LEO II on the carve-out acquisition of Schaeffler´s chain drive business

Eight Advisory Germany successfully supported LEO II Fund, exclusively advised by DUBAG Group, in their carve-out acquisition of Schaeffler´s chain drive business with buy-side financial due diligence and carve-out due diligence services.

The Munich based investment fund Lenbach Equity Opportunities II. GmbH & Co. KG (LEO II Fund), which is being advised exclusively by DUBAG Group, has signed a contract to acquire the global chain drive business from the world-wide active automotive and industrial supplier Schaeffler.

Chain drives systems are installed as part of the drive system in the internal combustion engines of passenger cars and other vehicles such as motorcycles as well as modern and environmentally friendly hybrid drives. In addition to drive chains, the systems include tensioning systems, sprockets, guide rails and other components. Being an integral part of a drivetrain, the chain drive systems ensure smooth running and reduced fuel consumption along the entire life cycle of a vehicle.

The aim of the transaction is to further expand its market position as the world’s leading system supplier and partner for OEMs for high-quality drive chains in international competition. With its many years of management experience, the DUBAG Group will provide long-term advisory support to the chain business as a permanent partner.

The transaction is expected to close in the first half of 2022 and is subject to all regulatory approvals being granted. As regards to the business of the French business of Schaeffler Chain Drive Systems SAS, the decision to sell can only be made after completion of the legally required consultations with the works council.

The business with around 560 employees ranks among the leading global suppliers.  Research and development as well as production take place at nine different locations in Europe, Asia and North and South America.

The parties have agreed not to disclose the financial details of the transaction.

Marc Niclas (Partner) and Heloise Campos (Senior Manager) provided Financial Due Diligence services and Marc Bernstein (Partner) together with Hans Wamsteker (Director) provided carve-out due diligence advise on this transaction.

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