Ad hoc-Mitteilungen

Feintool to accelerate growth through acquisition of Kienle + Spiess

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Ad hoc-Announcement pursuant to Art. 53 KR

With the acquisition of European Group, Kienle + Spiess, Feintool is strengthening its market position in the field of electrification as a future technology. Kienle + Spiess supplies rotors and stators, which form the power-generating core components of electric motors and generators, for highly efficient electric drives. Kienle + Spiess is one of the leading suppliers in this field. With this acquisition, Feintool is significantly expanding its latest business pillar, electric sheet stamping, and positioning itself as one of Europe's leading manufacturers of motor cores for battery electric vehicles (BEV) and hybrids (HEV), industrial drives and regenerative energies.

The purchase agreement for the acquisition was signed on December 6, 2021, and will be completed after relevant regulatory approval has been obtained. Feintool will retain all employees and apprentices working at Kienle + Spiess at the sites in Germany and Hungary. After the acquisition, their know-how will contribute to strengthening the Feintool Group. Kienle + Spiess expects sales of around 190 million euros in the 2021/2022 financial year. Based on the forecast figures for 2022, the two companies, Feintool and Kienle + Spiess, will have a total turnover of over CHF 800 million. For the acquisition, Feintool is using bridge financing, which will be replaced by a capital increase in the first half of 2022. The anticipated capital increase of up to CHF 200 million will serve not only to replace the bridge financing but also to finance Kienle + Spiess’s further growth. Feintool's main shareholder, the Artemis Group, has agreed to exercise its subscription rights and also to guarantee the capital increase up to the full amount.

Feintool CEO Knut Zimmer on the acquisition
"We want to further expand our recognized global and technological position. That's why Kienle + Spiess fits perfectly into our strategy. In addition to investments in our established fineblanking and forming operations, we have been investing extensively in electric sheet stamping technology for several years. We are also serving the fast-growing market for electrified vehicles, which use rotors and stators for the main drive. With the acquisition of Kienle + Spiess, we are accelerating our expansion in this business area and significantly broadening our technological base.”

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