ZF and AEQUITA conclude agreement on the acquisition of ZF's product line Electronic Interfaces

AEQUITA SE & Co., a German family-owned multinational industrial group with many years of experience in the automotive industry, takes over the global business of the product line Electronic Interfaces from ZF Friedrichshafen AG. The product line Electronics Interfaces develops and produces gearshift systems, actuators and haptic control systems for the automotive industry with approx. 750 employees in Germany, China, Mexico and the USA.

The planned transaction is the result of a careful, thorough review of the strategic options for the product line Electronic Interfaces as part of the transformation of ZF, which the company launched in 2020. ZF's Board of Management and Supervisory Board all agreed that the new owner AEQUITA was best suited to offer the product line Electronic Interfaces a long-term, secure future.

Stephan von Schuckmann, Member of the ZF Board of Management responsible for the division Electrified Powertrain Technologies, said: "The approach, values and experience of AEQUITA in the automotive industry are the perfect fit for Electronic Interfaces. AEQUITA has recognized the high innovation potential and excellent conditions for developing Electronic Interfaces into a midsized technology leader."

AEQUITA plans to turn the product line Electronic Interfaces into an independent company with its own brand. The Diepholz location (Germany) will remain the Corporate Headquarters with R&D and Production. The manufacturing locations in Shenyang (China) and Juárez (Mexico) will be retained, as will the sales and logistics locations in Northville and El Paso (USA) and Shanghai (China).

"The Electronic Interfaces Product Line with its sustainable cutting-edge technologies is the kind of hidden gem we are looking to find," explained Dr.-Ing. Axel Geuer, Managing Partner of AEQUITA. "We see enormous potential especially with actuators and technology involving magnetorheological fluids for haptic control. We aim to leverage this potential together with the global team at Electronic Interfaces."

In line with the wishes of the employee representatives of the product line, ZF has agreed with AEQUITA to take over all existing collective agreements and other legal agreements for the workforce. The product line becomes an independent company under the umbrella of AEQUITA and remains subject to collective agreements.

"AEQUITA fully supports our strategic focus. With maximum autonomy under the umbrella of the AEQUITA Group, we have the best growth prospects, and we will be able to work more independently, be more agile and move closer to the customer in future," said Thomas Buda, Head of the product line Electronic Interfaces. Together with the existing management team, he has already signaled his willingness to continue managing the business.

The financial details of the agreement were not disclosed. The transaction is subject to approval by the competent competition authorities.

About ZF

ZF is a global technology company supplying systems for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility. ZF allows vehicles to see, think and act. In the four technology domains of Vehicle Motion Control, Integrated Safety, Automated Driving, and Electric Mobility, ZF offers comprehensive product and software solutions for established vehicle manufacturers and newly emerging transport and mobility service providers. ZF electrifies a wide range of vehicle types. With its products, the company contributes to reducing emissions, protecting the climate and enhancing safe mobility. In 2021, ZF achieved sales of €38.3 billion with approximately 157,500 employees worldwide. The company is represented at 188 production locations in 31 countries. For further press information and photos, please visit: www.zf.com

About AEQUITA

AEQUITA is a Munich-based family-owned industrial group investing in special situations including corporate carve-outs, successions, and recovery situations across Europe. With a strong capital base, entrepreneurial expertise and a partnership approach, the team focuses on the acquisition and long-term value enhancement of companies that can benefit from an operational engagement. AEQUITA brings a fresh and sound view to all areas of the business, such as sales development, production optimization and efficiency measures, which can help management to drive sustainable growth. AEQUITA contributes not only the capital, but also the vision, inspiration and operational impetus needed to reach the next stage in the development of its companies and their success stories.

For further information please contact:

Simon Schulz
Partner

AEQUITA SE & Co. KgaA
Gabrielenstr. 9, 80636 Munich
T. +49 89 2620 4840-0
E. contact@aequita.com