DUBAG, a private equity firm, agreed to acquire the global chain drive business from Schaeffler, an automotive and industrial supplier. Financial terms were not disclosed. “We are delighted to welcome the employees and pleased to support the management, led by Dr. Markus Ottmüller and his team, on its future path to become a leading independent partner for automotive OEMs in the development and production of best-in-class chain drive systems. In particular, the outstanding knowledge in the field of R&D, the global production footprint in close proximity to its customers, and the highly trained and motivated workforce of approx. 560 employees, have convinced us to partner with the Schaeffler Group and to invest in the chain drive business,” Michael Schumann, DUBAG Founder and Partner.