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EQS-News: Stabilus SE
/ Key word(s): Mergers & Acquisitions
CORPORATE NEWS
Stabilus SE concludes acquisition of DESTACO
Koblenz, April 1, 2024 – Stabilus SE (WKN: STAB1L, ISIN: DE000STAB1L8), one of the world's leading suppliers of motion control solutions for a wide range of industries, today announced the closing of the signed acquisition of DESTACO of October 2023, effective Mach 31, 2024. All closing conditions were met, and the necessary regulatory approvals were obtained. DESTACO’s consolidation will start on March 31, 2024.
Michael Büchsner, CEO of Stabilus, said: "We are delighted to welcome DESTACO and its employees under the Stabilus umbrella. Industrial automation is one of the megatrends of our time, and with DESTACO we are significantly expanding our offering in this sector. Together, we will continue our growth trajectory to become one of the world's leading motion control companies."
Stefan Bauerreis, CFO of Stabilus, commented: "The closed acquisition and the resulting initial consolidation as of March 31, 2024 is an important milestone for us in the expansion of our industrial business. We are achieving a balanced weighting on the revenue side of our industrial and automotive business as part of our STAR 2030 strategy. Over the past few months, we have made all the preparations for the integration of DESTACO and are now looking forward to implementing them."
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About Stabilus Stabilus is one of the world's leading providers of motion control solutions for customers across a broad spectrum of industries including mobility, health, recreation, furniture, energy, construction, industrial machinery and automation. With more than eight decades of demonstrated expertise, Stabilus offers reliable and innovative motion control solutions that enable, enhance and automate opening, closing, lifting, lowering and adjusting actions. The company's customized damping and vibration isolation technology protects against shocks, vibrations and noise. Employing a workforce of more than seven thousand worldwide, the company has its operational headquarters in Koblenz, Germany. In the 2023 fiscal year, Stabilus has reported revenues of €1.2 billion. Stabilus has a global production network encompassing plants in eleven countries. Additionally, the Group maintains regional offices and relations to sales partners in over fifty countries in Europe, North and South America, as well as in Asia-Pacific. Stabilus SE is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the MDAX index.
Important Notice This press release may contain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management and other information currently available to Stabilus. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.
01.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Stabilus SE |
| Wallersheimer Weg 100 | |
| 56070 Koblenz | |
| Germany | |
| Phone: | +49 261 8900 0 |
| E-mail: | investors@stabilus.com |
| Internet: | group.stabilus.com |
| ISIN: | DE000STAB1L8 |
| WKN: | STAB1L |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1870747 |
| End of News | EQS News Service |
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1870747 01.04.2024 CET/CEST
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