William Blair and BDA advise STS on its sale to Adler Pelzer Group

BDA is pleased to announce that Mutares SE & Co. KGaA (“Mutares”), a listed private equity holding company, has successfully completed the sale of its 73.25% stake in STS Group AG (“STS”). STS develops, manufactures, and supplies interior & exterior components made of plastics or composite materials to the commercial vehicle industry in Germany and internationally. The sale of the group included business operations of Plastics and Materials in Europe, China, and the US.

Adler Pelzer Group had purchased the Acoustics Division of STS in 2020. The company will become part of the Adler Pelzer Plastics division in the future. BDA, in conjunction with its partner William Blair, advised STS on the transaction. 

STS Group AG had been part of the Mutares Group since 2013 and successfully completed a turnaround following a buy-and-build strategy. The IPO of STS Group AG took place in 2018, after which Mutares remained the main shareholder. In financial year 2020, STS Group generated revenues of €235m and EBITDA of €14.7m. The transaction includes the full 73.25% stake in STS Group AG held by Mutares.

“With the sale of STS, Mutares has once again achieved its target of a return on invested capital and our shareholders will participate in this success. I am also convinced that we are handing over STS Group to the best possible new owner,” says Robin Laik, CEO and founder of Mutares SE & Co. KGaA.

“The Adler Pelzer Group takes a further step for growth with the integration of Hard Trim to be combined with our competence in Soft Trim and Acoustics, adding a complementary product range to our Group in the automotive market of Light Vehicles, Vans and Heavy Truck,” commented Pietro Lardini, CEO of Adler Pelzer Group.
 
Jonathan Aiken, Managing Director, BDA, said, “We are happy to have advised STS on the sale of its majority stake. This transaction highlights BDA’s continuing strength in the automotive and commercial vehicle sectors.”
 
Jeffrey Wang, Partner, BDA, said, “STS continues to grow rapidly in key markets, notably in China. We congratulate Adler Pelzer on their acquisition, and we look forward to STS’s continued success under new ownership.”