Heuking Kühn Lüer Wojtek advises AL-KO on the acquisition of a majority stake in Steca Elektronik GmbH

A team led by Munich-based M&A partner Boris Dürr advised AL-KO GmbH on the acquisition of a majority stake in Steca Elektronik GmbH.
 
AL-KO's investment in Steca Elektronik by means of a capital increase will become effective January 1, 2017. As a strategic partner, AL-KO will take out a majority stake in the Memmingen-based electronic service provider. At the same time, the company founders, the Voigtsberger family, will continue to play an active role as shareholders.
 
Steca is a sought-after partner of industry for the development and production of electronic manufacturing services (EMS) and cable technology for a wide range of applications. The Memmingen-based electronics specialist's second pillar is in solar electronics with a focus on inverters for the rapidly growing segment of photovoltaic storage systems. Employing a staff of some 700 people at sites in Memmingen and in Bulgaria, Steca generates annual revenues of around EUR 70 million.
 
AL-KO GmbH is the parent company of the internationally operating AL-KO Kober Group, which has been focusing on the air conditioning technology, garden & hobby, and vehicle technology sectors. By joining Steca, AL-KO Group is expanding its operations by electrical engineering, which will form a separate division in the future. As part of AL-KO Group, Steca is set to benefit from synergy potentials in strategic purchasing, sales, and service. It will also be able to use AL-KO Group's expertise and strength in the areas of internationalization and project finance.
 
Heuking Kühn Lüer Wojtek also provided comprehensive legal advice to AL-KO, when its vehicle technology division merged with U.S. group Dexter Axle about a year ago to become the world's largest axle manufacturer, DexKo Global.
 
Heuking Kühn Lüer Wojtek's lead advisors on the transaction were Munich-based M&A lawyers Boris Dürr and Marcel Greubel.

Counsel to AL-KO
Heuking Kühn Lüer Wojtek:
Boris Dürr (Lead; M&A),
Marcel Greubel (M&A);
Dr. Arnold Büssemaker (M&A/Real Estate);
Dr. Frank Metz (M&A/Real Estate),
Peter M. Schäffler (Taxes), all Munich