Lone Star Funds informed that an affiliate of Lone Star Fund XIII, L.P. has entered into a definitive agreement to acquire ContiTech, the material solutions group of Continental AG, for EUR 4.0 billion. The transaction also includes performance-based components of up to EUR 250 million in subsequent years.
ContiTech is one of the world’s leading providers of mission-critical engineered rubber, thermoplastic and fabric technology solutions to customers in a wide range of industries including in the agriculture & food, construction, energy and mining sectors, among others. The group builds on 155 years of heritage and brand reputation for material science expertise and product quality. ContiTech serves customers across 34 countries and employs around 22,000 team members across Europe, the Americas and Asia-Pacific.
Through this investment, Lone Star plans to continue to develop the company’s platform and product suite, building upon ContiTech’s priorities around customer focus, quality and innovation. Lone Star will target specific areas for growth and drive the company’s technological capabilities forward with additional resources and operational expertise.
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