Schaeffler intends to sell global chain drive business
Global automotive and industrial supplier Schaeffler has signed a contract through which the global business with chain drive systems is sold to the private equity fund Lenbach Equity Opportunities II from Munich. Behind the fund are institutional investors with a long-term investment horizon. 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.
The transaction is expected to close in the first half of 2022 and is subject to all regulatory approvals being granted and fulfilment of other customary closing conditions. As regards to 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 parties have agreed not to disclose the financial details of the transaction.
Chain drive systems are installed as part of the drive system in the internal combustion engines of passenger cars and other vehicles such as motorcycles. In addition to drive chains, the systems include sprockets guide rails, tensioning systems and other components. In the medium term, Schaeffler will cease to include the components business with chain drive systems as part of its core business.
Commercial activities in chain drive systems have been expanding within the Schaeffler Group since 1986 and today, with around 560 employees, the business 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. In recent years, Schaeffler has strengthened its business through targeted efficiency improvements, for example by optimizing the global footprint of its plants and through investments. At Schaeffler, chain drive systems were produced for the automotive original equipment business (Automotive Technologies) and for the spare parts business (Automotive Aftermarket).