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CMS advises Magenwirth Group on sale of companies and joint venture formation

19/08/2019

Stuttgart – Robert Bosch GmbH has acquired a 50% stake in the MAGURA Bike Parts Group. The latter mainly comprises Magura Bike Parts GmbH & Co. KG and its general partner, Magura GmbH, which own several subsidiaries in Europe. The aim of the joint venture is for the MAGURA Bike Parts Group and Robert Bosch to further expand and strengthen their existing cooperation in the service segment and in parts sales and distribution. The MAGURA Bike Parts Group is part of the Magenwirth Group. Going forward, the newly established joint venture will trade under the name Magura Bosch Parts & Services GmbH & Co. KG. The details of the transaction were not disclosed. The transaction is currently awaiting approval from the merger control authorities, which is expected in September 2019. 

At almost the same time, the Magenwirth Group signed an agreement to sell its electronics business, in the shape of bebro electronic GmbH and eSystems MTG GmbH. The buyer is Munich-based electronics group Katek SE, a Primepulse Group company. The financial details of the transaction were not disclosed. The transaction is also currently awaiting approval from the competition authorities, which is likewise expected in the autumn. 

A CMS team headed by Dr Antje Becker-Boley advised the Magenwirth Group on all legal and tax aspects of both transactions. 

Gustav Magenwirth GmbH & Co. KG (Magura) is part of the Magenwirth Group. Established more than 125 years ago, it is now in the fourth generation of family ownership. The group develops and distributes products in the mechanical engineering, hydraulic engineering and plastics technology sectors under the Magura brand. Around 600 employees in Europe, Asia and the US develop, produce and market high-tech components for two-wheelers of all kinds – bicycles, mountain bikes, e-bikes and motorcycles. In addition to development and manufacture, the MAGURA Group provides a worldwide logistics and repair service for its own products and, as a system partner, for external customers. 

The holding company of the Magenwirth Group, Magenwirth Technologies GmbH, acts as a strategic, financial and entrepreneurial holding company. In 2018, the group generated global sales of some EUR 215 million and had around 1,100 employees. 

The bebro Group has been providing services relating to electronic and mechatronic components, equipment and systems for almost 50 years. Its offering spans development, prototyping, the production of medium-size batches and after-sales service. 

eSystems MTG is a sister company of bebro electronic. It develops e-mobility systems and intelligent charging technologies for car manufacturers. 

The Bosch Group is a leading international technology and service company with around 410,000 employees worldwide (as at 31 December 2018). It posted sales of approximately EUR 78.5 billion in the 2018 financial year. 

The Katek Group is a German service provider in the electronics sector. With around 1,750 employees, the group generates sales of more than EUR 275 million. The range of services covers all relevant industries as well as the entire lifecycle of electronic components and equipment, from development and prototyping through material and project management, electronics manufacturing, box build, testing technology and logistics to after-sales service.

CMS Germany

Dr Antje Becker-Boley, Lead Partner
Dr Barbara Wössner, Partner
Sonja Ebert, Senior Associate
Susanne Waldhans, Associate
Bertram Bombe, Associate
Dr Tobias Will, Senior Associate, all Corporate/M&A
Dr Rolf Hempel, Partner
Martin Cholewa, Senior Associate, both Merger Control
Dr Axel Funk, Partner
Dr Michael Kraus, Partner
Markus Spitz, Associate, all TMC
Dr Martin Mohr, Counsel, Tax
Dr Klaus Ikas, Partner, Intellectual Property
Dr Gerald Gräfe, Partner
Dorina Straub, Associate, both Commercial Law
Dr Werner Walk, Partner, Labor, Employment & Pensions
Dr Marc Seibold, Partner, Corporate Finance

Press Contact
presse@cms-hs.com 

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