For WITTE Automotive, the acquisition represents an important building block of its growth strategy. With locations in Germany and Timișoara, Romania, the HELBAKO Group has proven expertise in the development, industrialization, and production of electronic systems and control units, thereby strengthening WITTE Automotive’s existing portfolio of capabilities.
HELBAKO also enjoys an excellent reputation among well-known OEMs, who have expressly welcomed the planned step. The two companies are already linked by a long-standing, trust-based collaboration. In joint projects in the past, WITTE Automotive has repeatedly drawn on the expertise of its neighboring electronics specialist. For some time now, HELBAKO had been seeking an investor offering continuity, development opportunities, and stability.
“Despite all the challenges facing the automotive industry, WITTE Automotive is in a very solid financial position, which allows us to invest in future-oriented technologies and know-how,” explains Rainer Gölz, CEO of WITTE Automotive. “Due to the existing competencies, customer base, and the cultural fit between the two family-owned companies, the planned acquisition of HELBAKO will quickly create value. At the same time, we are pleased that this step enables us to provide a long-term perspective for a technologically strong company and to sustainably secure its business operations.”
The shareholders of HELBAKO reaffirm this view: “We are convinced that, through the complementary competencies, WITTE’s market penetration, and a very similar corporate culture, HELBAKO’s continued existence will be secured and highly attractive opportunities and prospects can be developed.”
Completion of the transaction is subject to approval by the relevant authorities. The parties will inform about the final closing of the transaction in due course.