Shareholders of Autonet group of companies, the leading service provider on the Romanian automotive aftermarket, have closed a transaction with SAG.
December 11, 2015 – Shareholders of Autonet group of companies, the leading service provider on the Romanian automotive aftermarket, have closed a transaction with Swiss Automotive Group (SAG), one of the largest European independent provider of car parts. From here on, Autonet companies will be comprised within a holding, with SAG owning 51% of the shares, and the existing Autonet shareholders 49%. SAG and Autonet will continue to operate separately within their own markets.
Their joint coverage encompasses seven countries – Romania, Hungary, Slovenia, Slovakia, Switzerland, Austria and Belgium. The two companies are members of the same buying group, ATR International AG, one of the biggest associations of companies, with an estimated annual turnover of EUR 14 billion, for 2015.
“We are looking forward with confidence to this alliance, which will result in the emergence of an entity comparable by size with the largest European players within the field. Together with SAG, we will be able to consolidate our leading position in the Romanian market, as well as to accelerate our growth across the other markets – Hungary, Slovenia and Slovakia. Autonet and SAG are targeting a total turnover of one billion euro during the following years”, Mihály Lieb, shareholder at Autonet and member of the Supervisory Board at ATR International AG, has stated.
„Our common values, together with the similar business models, were keystones when deciding upon signing a deal with SAG. Thus, this alliance will not determine a change in Autonet’s business model and we will further address the current customer segment, providing it with an extended range of products and services. The group’s current shareholders, as well as the management, will remain involved, in the long run, in the day to day operations here at Autonet Group Holding,” added Mihály Lieb.
Autonet group of companies currently has 1,500 employees, and this alliance will allow it to build upon its position, as an important employer. The completion of the transaction is subject to receiving the necessary approvals from the competition authorities.
About Autonet Group Holding
Autonet Group Holding is one of the most prominent suppliers within the auto repair segment in CEE, being comprised of Autonet Import Romania, Autonet Import Hungary, Autonet Import Slovenia (aftermarket suppliers for the auto repairs segment), Lubexpert Romania, Lubexpert Hungary, Lubexpert Slovakia (lubricants), Forsius (auto paints), Network Systems (IT & Web services, Marketing agency), Garage Assist (service equipments), Autonet Management Company (management). Autonet Import, the largest company within the group, is the largest supplier of auto parts across Romania. The company was founded in 1996 and handles customers in three countries (Romania, Hungary and Slovenia), through its three distribution centers and 61 regional warehouses. The Autonet Group has 1,500 employees in the four countries it operates (Romania, Hungary, Slovakia and Slovenia). The turnover for 2015 is estimated at nearly EUR 280 million.
About the Swiss Automotive Group
With annual sales of more than 500 million CHF, Swiss Automotive Group is one of the largest distributors in the European independent aftermarket for car parts. Operating more than 500 delivery vehicles and more than 100 branches, customers are being served through the subsidiaries Derendinger AG, Technomag AG, E. Klaus AG, IHLE Schweiz AG and Wälchli & Bollier AG in Switzerland, as well as Derendinger Handels GmbH in Austria, Matik Handels GmbH in Austria and in Slovenia and Remco Belgium NV in Belgium. The offering of the one-stop shop concept consists of all kinds of services for the automobile market as well as original spare parts for all vehicle brands available in the market and includes more than 250,000 parts. Swiss Automotive Group employs more than 2,000 people.