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July 07, 2021 12:14 PM

Adler Pelzer buys majority stake in STS Group

Sarah Kominek
Sarah Kominek
Staff Reporter
Plastics News Staff
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    Adler Pelzer Group

    Adler Pelzer says its acquisition of STS will allow it to combine its expertise in auto acoustics with hard interior trim.

    Auto acoustics specialist Adler Pelzer Group has made a move toward integrating both hard trim and sound improvements in vehicles with the acquisition of a majority of STS Group AG from investment firm Mutares SE & Co. KGaA.

    STS develops, manufactures and supplies plastic and composite interior and exterior components. The sale announced July 5 included business operations of plastics and materials in Europe, China and the U.S., a July 5 news release said.

    "The Adler Pelzer Group takes a further step for growth with the integration of hard trim to be combined with our competence in soft trim and acoustics, adding a complementary product range to our group in the automotive market of light vehicles, vans and heavy truck," Adler Pelzer CEO Pietro Lardini said in the release.

    Adler Pelzer Group purchased the acoustics division of STS in 2020. The company will become part of the Adler Pelzer plastics division in the future, the release said.

    STS Group had been part of the Mutares Group since 2013. The IPO of STS Group took place in 2018, after which Mutares remained the main shareholder.

    In the 2020 financial year, STS Group generated sales of about $277 million (235 million euros) and EBITDA of $17.3 million (14.7 million euros). The transaction includes the full 73.25 percent stake in STS held by Mutares.

    "With the sale of STS, Mutares has once again achieved its target of a return on invested capital and our shareholders will participate in this success," Robin Laik, CEO and founder of Mutares SE, said in the release. "I am also convinced that we are handing over STS Group to the best possible new owner."

    STS produces body and structural parts made of plastics and composites, delivered as single parts or as subassemblies mainly to heavy duty truck and passenger vehicle OEMs.

    Hagen, Germany-based Adler Pelzer Group designs, engineers and manufactures acoustic and thermal components and systems for the automotive sector in more than 80 locations with over 11,000 employees globally. The company is owned by Naples, Italy-based Adler Plastic SpA.

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