BRP advises shareholders of XTRONIC on sale of their shares to Schaeffler
BRP advised the shareholders of XTRONIC GmbH on the sale of their shares to Schaeffler Technologies AG & Co. KG, a subsidiary of Schaeffler AG, on all corporate, antitrust and labor law related issues under the lead management of partner Dr. Friedrich Bozenhardt. The transaction is still subject to the approval of the competition authorities and is expected to be closed in June 2019.
As a technology partner, XTRONIC GmbH develops customer-specific software and electronic solutions for the international automotive industry. The medium-sized, owner-managed company employs around 170 people at its two sites in Böblingen and Wolfsburg. The service portfolio includes applications in the fields of automated driving and electromobility, as well as functional safety, methods, tools and test systems.
XTRONIC was founded 20 years ago and has developed the "Space Drive" drive-by-wire system in close cooperation with Paravan, a company well-known for the handicapped-friendly conversion of series-produced cars. This technology is decisive for autonomous driving, which is becoming increasingly important. XTRONIC has customer relationships with all well-known automobile manufacturers and suppliers.
The Schaeffler Group is a globally active automotive and industrial supplier with approx. 92,5000 employees at around 170 locations in over 50 countries, based in Herzogenaurach, Germany.