PARIS/MONCHENGLADBACH, Germany — March 2, 2020 — TESCA and Willy SCHMITZ announce that they have closed a transaction whereby TESCA is acquiring the business of Willy SCHMITZ and its operations, located in Germany. TESCA, headquartered in Paris, is a major supplier of automotive fabrics, value added textile parts and seating components. TESCA employs 3,500 people and operates 22 facilities globally.
Willy SCHMITZ, headquartered in Monchengladbach, Germany, is a major supplier of fabrics to the German automotive manufacturers, but also to other industries, including via its affiliated company OGUS. Willy SCHMITZ employs 150 people and operates in two facilities in Germany. “The TESCA and Willy SCHMITZ businesses are very complementary in terms of customer interface and geography”, said Carl de Freitas, TESCA CEO. “Merging our activities will provide a broader more efficient platform to support our customers globally.”
“TESCA global footprint is an ideal asset to enable Willy SCHMITZ to support the needs of our historic customers with our products beyond their traditional markets”, said Markus Schmitz, owner and President of Willy SCHMITZ. Financial terms of the transaction were not disclosed.
The TESCA Group, whose textile origins date back to 1836, is a world leader in the creation, design and manufacture of automotive textiles, materials and seat components. Owned by private investors, the Group has 3,500 employees in 22 locations and 16 countries, in Europe, North Africa, Russia, Asia, Latin and North America.
The group holds a significant number of patents for the design and manufacture of seat components such as headrests, armrests, seat upholstery, padding, and smart materials. In 2019, it generated sales of about 250 million euros.
Willy SCHMITZ is a textile company founded in 1897, its activity is spread over two sites in Germany, one in Monchengladbach and the other in Oberndorf.
It now has 150 employees with a turnover of around 35 million euros.
Willy Schmitz is an essential textile supplier of the German car manufacturers, like VW, Mercedes, BMW, Audi or Volvo and the company is present at iconic manufacturers such as Porsche and Aston Martin.
Posted March 2, 2020
Source: TESCA Group