Rheinmetall sells Hirschmann to HgCapital

Germantown, MD; Neckartenzlingen, Germany— To finish divesting its electronics business, Düsseldorf-based Rheinmetall AG recently sold Hirschmann Electronics GmbH & Co. KG to European private equity investor HgCapital for 115 million euros, including takeover of liabilities. Still subject to regulatory approval, the deal took the form of a management buy out by Hirschmann.

Hirschmann’s transfer, which followed the November 2003 sale of the Preh Group to Deutsche Beteiligungs AG, was the final step in Rheinmetall’s divestiture of its electronics group. Rheinmetall says these sales will allow it to focus on its core businesses: Kolbenschmidt Pierburg in the automotive sector and Rheinmetall DeTec in the defense industry.

As an electronics specialist, Hirschmann employs 1,750 people, and generated sales of more than 280 million euros in fiscal 2003. Hirschmann manufactures automation and network solutions, and electronic control systems for construction machinery, car communication systems, and multimedia electronics.

Do you have experience and expertise with the topics mentioned in this content? You should consider contributing to our WTWH Media editorial team and getting the recognition you and your company deserve. Click here to start this process.