Freudenberg signs agreement to acquire Trelleborg’s shares in Vibracoustic

The Freudenberg Group reached an agreement with its joint venture partner Trelleborg AB, Trelleborg, Sweden, to acquire its 50 % shareholding in the joint venture company, Vibracoustic GmbH, Darmstadt, Germany. The contract is currently being negotiated, says Freudenberg. The transaction is still subject to approval by the relevant authorities. The acquisition is expected to be finalised in the second quarter of this year, effective retrospectively as of 1 January 2016. TrelleborgVibracoustic was renamed in Vibracoustic GmbH on 4 April 2016.

“Through the cooperation with Trelleborg's automotive anti-vibration business, Vibracoustic has become a global and market technology leader in vibration control components and modules in the automotive industry. As sole shareholder, we will have the additional flexibility to develop and support Vibracoustic strategically and financially,” said Dr. Mohsen Sohi, Freudenberg Group CEO.

According to Freudenberg, the current joint IPO preparation process has been stopped. As previously communicated, Freudenberg says it will remain a long-term anchor shareholder in Vibracoustic, while examining various strategic options to take the company forward in the best possible way.

“Vibracoustic and its customers will continue to benefit from the Freudenberg Group's long-term orientation and financial solidity. Vibracoustic has a unique portfolio on the market for passenger and commercial vehicles,” stated Frank Müller, Vibracoustic CEO.

The company was formed in July 2012 as a 50:50 joint venture between the Freudenberg Group and Trelleborg. Freudenberg brought its Business Group, Vibracoustic, to the joint venture; Trelleborg its automotive anti-vibration business.

In the past few years, Vibracoustic has reported organic growth that has outpaced the respective market segments and, in 2015, the company generated sales of EUR 1,941.8 million (previous year: EUR 1,779.3 million) with 9,354 employees (previous year: 9,020 employees). Based on the 50 % shareholding, sales attributable to Freudenberg amounted to EUR 970.9 million (previous year: EUR 889.6 million with 4,677 employees (previous year: 4,510 employees).