Heuking advises car parts dealer ATP on merger with SAG
A team led by Munich-based Partner Prof. Dr. Georg Streit advised ATP Auto-Teile-Pöllath Handels GmbH, a leading European supplier in the automotive parts aftermarket, on the merger with Swiss Automotive Group (SAG). The transaction is subject to approval by the antitrust authorities. Closing is expected in spring 2020.
Under the leadership of SAG, the two companies will combine their strengths in purchasing and e-commerce. ATP‘s market development will remain unchanged. The company‘s sites in Pressath (warehouse and distribution) and Kirchenthumbach (administration) will also be maintained. Direct purchases from parts manufacturers will be made through the newly established Swiss company “AT Sourcing AG“ to make optimum use of synergy potentials in purchasing.
Long-term financing is secured by means of the agreed capital increase by SAG. It is also intended to further develop ATP group in the growing online market.
ATP Auto-Teile-Pöllath Handels GmbH specializes in the online distribution of car spare and wear parts and vehicle accessories. With some 450 employees, ATP generated revenue of about EUR 110 million in 2018. In the same year, ATP-Autoteile became the first eBay shop in Germany to reach the special feedback volume of four million, making ATP Germany’s largest eBay trader and one of the top three eBay sellers in Europe.
SAG, based in Cham, Switzerland, is a pan-European dealer for the car and commercial vehicle industry in the B2B sector and generated sales of some CHF 900 million in 2018. The company employs more than 3,200 people at over 180 locations.
Heuking, with Prof. Dr. Georg Streit as lead counsel, has been working for ATP since the beginning of 2019.
Counsel to ATP
Heuking Kühn Lüer Wojtek:
Prof. Dr. Georg Streit (Lead, Restructuring)
Dr. Arnold Büssemaker,
Dr. Ulrich Jork (M&A)
Dr. Stephan Degen (Tax)
Dr. Reinhard Siegert (Antitrust)
Dr. Fabian Bürk, LL.M.
Dr. Kai Uwe Büchler (Restructuring)
Sarah Kraft (M&A), LL.B., all Munich