Bosch Automotive Aftermarket has sold its two subsidiaries, Beissbarth GmbH and Sicam SrL, to the Munich-based equity investment company Stargate Capital. The deal closed on 18 July 2018. The intention to sell the two companies was initially announced in May 2017.
Bosch has confirmed that all 330 employees will be taken on by Beissbarth and Sicam. The purchase price has not been disclosed. The transaction is still subject to approval from the antitrust authorities.
Stargate Capital is already active in the automotive sector through its subsidiary Werther International SpA, which is headquartered in Reggio Emilia, Italy. Werther International supplies workshop equipment and lifting platforms for motor vehicles. With the acquisition of Beissbarth and Sicam, Stargate Capital plans to expand its portfolio in the automotive sector.
Beissbarth supplies automotive manufacturers and garages worldwide with precision gauges, while Sicam is one of the major manufacturers of tyre service equipment for tyre dealers and garages. The product portfolio of Beissbarth and Sicam includes tyre changers, balancing machines, brake testers and test lanes as well as wheel alignment equipment.