The Fertinger Group, an international automotive supplier based in Wolkersdorf (Austria), has acquired 100 percent of the shares in Modine Austria GmbH. The international law firm Taylor Wessing, led by Düsseldorf partner Klaus Grossmann, provided legal advice to the Fertinger Group on the takeover. Closing of the transaction is expected in the first half of 2021, subject to approval by the relevant regulatory authorities. The parties have agreed to keep the purchase price confidential.
Modine Austria is a manufacturer of cooling condensers for the automotive industry and currently employs around 360 people at its Kottingbrunn site. With this strategic acquisition, the Fertinger Group continues its expansion course and further extends its expertise into climate and temperature management in the automotive sector.
About the Fertinger Group:
Based in Lower Austria, the Fertinger Group is an international company in the automotive supply industry, which specialises in the development of components for temperature management in vehicles, current-carrying and media-carrying modules and assemblies made of lightweight metallic materials. Founded in 1944, the Fertinger Group now employs around 300 people at its sites in Wolkersdorf, Neusiedl/Zaya, Niepołomice and Remscheid.
Legal advisers to the Fertinger Group:
Taylor Wessing German: Lead partner Klaus Grossmann (Corporate), Daniel Mursa (Corporate), Nora Wessendorf (IP & Patents), all Düsseldorf
Taylor Wessing Austria: Philip Hoflehner (Corporate), Alan Hahn (Corporate), David Konrath (Cartel Law), Julia Loerincz (Cartel Law)