Atlas Holdings, a US-based company, has announced the acquisition of Rehau Automotive, a German automotive components producer, and its merger with SRG Global. The result of this merger is the creation of a new player in the automotive exterior parts market, RESGR Automotive.
After receiving approval from EU antitrust authorities in February, Atlas Holdings finalised the acquisition of Rehau Automotive, merging it with its portfolio company SRG Global. The new company, RESGR Automotive, combines SRG Global's expertise in injection-moulded and decorated parts with Rehau Automotive's expertise in plastic bumpers and body panels.
The Rehau Group, the previous owner of Rehau Automotive, retained a minority stake in the new industrial entity. RESGR Automotive currently operates 22 production facilities and employs 10,000 people worldwide.
RESGR Automotive has been headed by Jeff Stafeil as CEO, while Markus Distelhoff, former CEO of Rehau Automotive, will oversee operations in Europe and Africa.
‘The combination of Rehau Automotive and SRG Global creates a leading global supplier with highly complementary positions, unique capabilities and trusted customer relationships, ensuring RESGR's long-term success,’ Stafeil said. ‘Rehau and SRG bring to their work a combined 160 years of experience serving the world's leading automakers with unparalleled capabilities.’
Atlas Holdings is headquartered in Greenwich, Connecticut, and has a portfolio of 27 companies with more than 57,000 employees at 350 facilities worldwide. The group operates in a wide range of industries, including automotive parts supply, building materials, construction services, food manufacturing, metal processing, packaging, paper making, power generation, and supply chain management. Atlas Holdings' total annual revenue is about $18 billion.