ATESTEO GmbH takes over TÜV SÜD’s Engine/Drivetrain Technology and Components Testing division in Garching near Munich as of January 1, 2017. The agreement was signed by the two companies on December 22, 2016. Through this acquisition, ATESTEO continues its growth strategy in the field of drivetrain testing and strengthens its position in the German core market.
With this takeover, ATESTEO, the leading international specialist in transmission, hybrid and electric drivetrain and brake testing for the automotive industry, will now also have a location in southern Germany. “Together with our test centers in Alsdorf, Wolfsburg, Kassel and Aachen, we can now offer our services nationwide and move even closer to our customers,” says Dr. Georg Bletschacher, CFO and Member of the Management Board of ATESTEO.
Employees and property will be transferred to ATESTEO in form of a transfer of operations. Six drivetrain test benches, three engine test benches, and a hot-shake test bench for component testing will be integrated in ATESTEO’s existing testing infrastructure that will ultimately comprise more than 130 drivetrain test benches in Germany and China. The parties agreed not to disclose the value of the transaction.
“The acquisition is another milestone in ATESTEO’s successful growth strategy. I am pleased that many employees agreed to the transfer of operations and would like to welcome our new colleagues to the ATESTEO family,” says Dipl.-Ing. Wolfgang Schmitz, Chief Executive Officer of ATESTEO. “This acquisition is further evidence of our growth ambitions. Together with our new employees, we will extend our leading position.”
“We are convinced that with ATESTEO, we have found the best home for our employees and the site. The services and the customers of both companies are perfectly complementary,” emphasizes Robert Kees, Managing Director of TÜV SÜD Product Service GmbH.