German automotive components and services firm Hella Group is selling its wholesale companies in Denmark and Poland to Swedish aftermarket company Mekonomen to concentrate its activities on the independent spare parts business and develop workshop equipment.
“As part of this, we are accelerating the interaction between the divisions and opening up digital business models,” said Werner Benade, managing director responsible for the company’s aftermarket and special applications segment.
Mekonomen is acquiring FTZ Autodele & Verktoj in Denmark and Inter-Team in Poland to strengthen its position as an automotive spare parts distributor in the Nordic region and “take the step into Europe”, said group president and CEO, Pehr Oscarson.
Mekonomen has agreed to pay Hella €395m ($457m) for FTZ and Inter-Team, minus any profits generated between November 30th last year and completion of the transaction. Completion is expected before the end of September, subject to anti-trust approval.
FTZ and Inter-Team employ about 2,500 workers and generated revenues of around €480m in the 2016/2017 financial year – about 7% of Hella’s consolidated sales.
Lippstadt-based Hella Group develops and manufactures lighting and electronic components and systems for the automotive industry, as well as selling automotive parts and accessories and providing diagnosis and other services within Europe. It also develops products for specialist vehicles.