Ulcar & Partners and Zivkovic Samardzic have advised the TCH Industrial Group on the sale of Cimos and its subsidiaries to Mutares. CMS and Luther reportedly advised the buyer.
Closing is expected in the third quarter of 2022, pending regulatory approval.
According to Zivkovic Samardzic, “the company will act as a key Eastern European platform for Mutares’ automotive & mobility segment, with seven production plants across Slovenia, Croatia, Serbia, and Bosnia & Herzegovina as well as one logistics plant in Slovenia.”
Cimos is a Slovenia-headquartered automotive component producer with approximately 2,000 employees.
The TCH Group specializes in turbo and powertrain products and components manufacturing and operates 13 plants in Europe and Asia.
Mutares is a German private equity investor focused on the segments of automotive & mobility, technology & engineering, and goods & services sectors.
“Cimos allows Mutares to establish a strategic automotive platform enabling the broader automotive & mobility portfolio to tap into a very well invested machine park at competitive production costs,” Mutares announced. “The high capabilities of Cimos, together with machines that are applicable across a variety of products, allow for the offloading of the significant workload from the portfolio with a very low capital expenditure requirement, given a universal machining approach.”
The Zivkovic Samardzic team included Partners Igor Zivkovski and Sava Pavlovic.