KW automotive Group successfully acquires AL-KO Damping Technology Business Unit

CLOVIS, Calif., July 30, 2021 /PRNewswire/ -- After announcing in June 2021, the purchase of BBS, the renowned alloy wheel manufacturer with more than 260 employees, KW automotive Group continues to grow with the acquisition of the Damping Technology business unit from AL-KO Vehicle Technology Group. With approximately 250 employees at two facilities in Spain and China, the AL-KO Damping Technology business unit manufactures shock absorbers for an array of commercial vehicles with varying body solutions and chassis types. Located in Fichtenberg, Baden-Württemberg, Germany, KW automotive Group further expands its core business through this recent acquisition, and with the completion of another major acquisition this year. In January, Reiger Suspension, the off-road racing damper manufacturer, was also purchased by KW automotive Group. Financial details of the transactions are not yet available.

"The business relationship between AL-KO Damping Technology and KW automotive has already existed for a number of years. This transaction offers the opportunity for a technological leap forward, from which our AL-KO product segments will also benefit. KW automotive Group will serve as a home where all employees feel welcomed and are valued as part of the KW automotive Team. We plan to continue to work closely with KW over the long term," said Harald Hiller, President and CEO of the AL-KO Vehicle Technology Group. He added that the AL-KO Vehicle Technology Group itself will focus on its core business, the development and production of high-quality chassis and suspension components for trailers, recreational vehicles, light commercial vehicles and new mobility solutions.

For over 25 years, KW automotive has specialized in the development, production, and distribution of premium suspension solutions for road and motorsport applications. Now, KW automotive benefits from AL-KO's modern production facilities in Europe and China, as well as the Damping Technology business unit's commercial vehicle expertise. "With AL-KO, we gained a team of outstanding experts in the field of damping technology," stated Klaus Wohlfarth, managing partner of KW automotive GmbH. "AL-KO Damping Technology's many years of experience and expertise in industrial production enrich our core business, which we intend to expand even further. With the two manufacturing factories in Europe and China, we simplify and strengthen our supply chains, and share our core values."

Aiman Kaamel, Senior Vice President and Head of Business Division AL-KO Damping Technology: "Our entry into the KW automotive Group creates clear synergies and interesting development prospects. Our industrialization expertise combined with the high technological competence of KW's suspension experts will allow us to open up new market segments, and at the same time deliver innovative products to our long-standing customers, among which the AL-KO Group will still be."

The perfect suspension for every demand: With its focus on the production of coilover suspensions, KW automotive is an innovator in its market. The core business of the KW automotive Group is the development and production of individual suspension systems for the aftermarket and motorsport segments, as well as the accessories program and original equipment for select vehicle models in the automotive industry. In recent years alone, KW has developed over 16 different damping technologies. Wheel spacers, alloy wheels and sim racing simulators for virtual motorsports add to the product portfolio of KW automotive Group.

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SOURCE KW Suspensions