DGAP-News: EDAG Engineering Group AG: EDAG reaches agreement with Zielpuls on essential parameters of an acquisition

DGAP-News: EDAG Engineering Group AG / Key word(s): Mergers & Acquisitions

16.07.2018 / 08:30
The issuer is solely responsible for the content of this announcement.


EDAG Engineering Group AG: EDAG reaches agreement with Zielpuls on essential parameters of an acquisition


Arbon, July 16, 2018
EDAG, leading independent engineering services provider to the global automotive industry, and Zielpuls GmbH based in Munich (Zielpuls) reached an agreement on essential parameters of an acquisition of Zielpuls by EDAG.

Zielpuls is a technology-oriented business consultancy that covers digitization topics in the automotive industry. Focus of the activities is on future fields like highly automated driving, connectivity system-architectures and digitization. Located in Munich, Wolfsburg, Beijing and Shanghai, about 170 highly specialized employees generate revenues of about 16 million Euros per year. Zielpuls is one of the companies with the strongest earnings and growth in the segment.

"With the planned acquisition, EDAG significantly expands its competences in important growth areas of the automotive development", explains Cosimo De Carlo, CEO of the EDAG Group. "Zielpuls is an ideal addition of our Electrics/Electronics portfolio and the digital transformation. I am looking forward to working together with the innovative and modernly set up company and would like to welcome our new colleagues to EDAG. "

Thomas Eichelmann, Chairman of the Board of Directors adds: "EDAG has an optimal strategic fit with Zielpuls. The EDAG Group can expand its offering of services to consulting-intensive, complementary services. With this step, the EDAG Group positions itself even stronger as an innovative partner to the global automotive industry."

"For us, significant growth opportunities in new markets and with new customers open up through EDAG's worldwide network", explain Markus Frey and Marc Poppner, Managing Directors of Zielpuls. "Together, we can now offer our customers comprehensive solutions and consulting. With EDAG, our teams are now backed by a strong global network.

The parties are currently in exclusive contract negotiations. It is intended to close the transaction until the end of September.



About EDAG

EDAG is an independent engineering services provider to the global automotive industry. The company serves leading domestic and international vehicle OEMs and sophisticated automotive suppliers through a global network of about 60 sites in major automotive centres of the world.

EDAG offers complementary engineering services across its Vehicle Engineering, Electrics/Electronics and Production Solutions businesses. Based on these extensive capabilities, EDAG can support clients across the entire value chain from the original design idea to product development and prototype construction all the way to the delivery of turnkey production systems. As a technology and innovation leader, EDAG also operates established centres of excellence that design landmark technologies for future applications in the automotive industry: lightweight construction, electric mobility, car IT, integral safety and new production technologies.

In financial year 2017, the company generated revenues of EUR 717 million and an adjusted EBIT of EUR 32.6 million. As at 31 December 2017, 8,404 employees (including apprentices) worked for EDAG in 19 countries.



Contact:

Michaela Bender
Phone: +49 (0) 611- 7375 145


 

Forward-looking statements

 

This release contains forward-looking statements. These statements are based on current estimates and projections of EDAG Executive Board and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not be accurate. Many factors could cause the actual results, performance or achievements of EDAG to be materially different from those that may be expressed or implied by such statements. EDAG does not assume any obligation to update the forward-looking statements contained in this release.



16.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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