ABC Technologies Holdings, a leading manufacturer and supplier of custom, highly engineered technical plastics and lightweighting innovations to the global automotive industry, announced that it has entered into a definitive agreement to acquire Karl Etzel GmbH (“Etzel”) from the Schürrle family for approximately US$95 million (the “Etzel Acquisition”). Based in Muhlacker, Germany, Etzel was founded in 1976 and is a leading tier–1 and tier–2 supplier to the German luxury OEM market. Etzel’s expertise in injection molding plastics for OEM interiors and exteriors will grow ABC’s product suite in the European market as well as provide greater diversification to German–based global OEMs. For the LTM period ended November 2021, Etzel generated approximately US$100 million in revenue.
“The acquisition of Etzel will provide ABC the opportunity to meaningfully expand our scale in Europe while entering the interior products space on the continent with a strong customer base of luxury OEMs. These OEMs have looked to Etzel to provide global solutions, which will be enabled with ABCs existing footprint,” said Todd Sheppelman, President and CEO of ABC Technologies.
“Etzel’s management team has built a solid European foundation from which to grow with its existing customers, especially in North America, as well as giving ABC a base upon which to cross–sell its existing product suite.”
“Etzel and its employees are excited to join ABC Technologies, which will allow us to reach a new level of growth through a more global organization,” said Etzel’s President and CEO, Andreas Schürrle. “ABC’s leadership position in the injection molding and lightweighting market will enable Etzel to expand in North America, where our German OEM customers have significant manufacturing presence, but where we have thus far not been able to serve them. We see this as a great match for Etzel, ABC and our customers.”
The Etzel Acquisition is subject to approval by the German Federal Antitrust Office and the Austrian Federal Competition Authority. The Etzel Acquisition is expected to close in ABC Technologies’ Fiscal Third Quarter 2022 (1st Quarter CY 2022).
