Rheingold Capital completed the acquisition of HÖRMANN Automotive Eislingen from HÖRMANN lndustries.

Rheingold Capital, an industrial holding company, completed the acquisition of HÖRMANN Automotive Eislingen, a tanks and containers for buses, agricultural and construction machinery manufacturer, from HÖRMANN lndustries, a supplier of gates, doors, frames and operators. Financial terms were not disclosed. “The decision to sell is the result of a careful examination of a wide range of options and part of the strategic realignment of the HÖRMANN Automotive division. Over more than ten years, the approximately 90 employees of HAE have made an important contribution to the reliable supply of our renowned customers in the commercial vehicle industry with a high level of commitment and very good performance. Due to the difficult market environment and high cost pressure, it has unfortunately not been possible to establish a stable earnings and financial position from our own resources, despite the high investments made. We would like to emphasize that HAE will of course continue to meet its obligations to customers and partners based on the agreements reached. The transition to the new owner will be carefully planned and accompanied by HÖRMANN Automotive,” Michael Radke, HÖRMANN CEO.