Deal Announcement 10/19: Automotive

PwC acted as exclusive financial advisor to Formel D GmbH on the acquisition of Vdynamics GmbH, a Munich-based engineering service provider focused on physical and virtual testing of automotive software and electronic control units (ECUs)

The Deal

The German PwC M&A team is pleased to announce the successful Closing of the acquisition of Vdynamics GmbH (“Vdynamics”) by Formel D GmbH (“Formel D”), an automotive service provider backed by 3i and CITIC Capital. PwC M&A acted as exclusive financial advisor to Formel D GmbH on this transaction.

PwC M&A assisted Formel D throughout the entire transaction process in project management, coordination of the due diligence as well as negotiation and strategic advice. In addition to the M&A services, PwC provided financial as well as tax due diligence services.

The acquisition will enable Formel D to reinforce its market position in product development, with a focus on testing and validation and offer a greater range of solutions to its customers. In this area the Group already supports its customers with services extending from vehicle construction, retrofitting, and camouflage to fleet management, provision of testing bases up to testing operation, including technical vehicle management.

Vdynamics GmbH

Vdynamics GmbH was founded in 2012 and is headquartered in Munich. With a workforce of more than 100 employees, mainly engineers, the company offers both engineering expertise and proprietary software solutions. Featuring a 3,500 m² workshop and 2,500 m² of office space, Vdynamics carries out its certified testing processes on modern testing equipment tailored to the specific prototype.

Formel D GmbH

Formel D is a global service provider to the automotive and supply industry. The company develops concepts and scalable solutions for quality assurance and process optimization along the entire automotive value chain – from product development and production to aftersales. Founded in 1993 in Troisdorf near Cologne, Formel D now employs over 10,000 people and is present in more than 80 locations across 20 countries.

PwC

The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 250,000 people in 158 countries. Our global network comprises nearly 1,550 M&A professionals all over the world, realising approx. 400 successful transactions per year. We specialise in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatisations as well as structured financing.

PwC M&A Germany acted as exclusive financial advisor to Formel D GmbH on this transaction. The transaction was led by Martin Schwarzer (Partner) and Wilfried Böckmann (Senior Manager) with the execution team comprising of Florian Sonntag (Manager) and Luca Hannemann (Associate).

For more information please contact Martin Schwarzer +49 (0) 69 9585-5667 or Wilfried Böckmann +49 (0) 69 9585-5895.

Contact us

Martin Schwarzer

Martin Schwarzer

Partner, Co-Head Mergers & Acquisitions: Automobilindustrie, Industrielle Produktion

Tel.: +49 69 9585-5667

Dr. Alexander von  Friesen

Dr. Alexander von Friesen

Partner, Co-Head Mergers & Acquisitions: Gesundheitswesen, Handel und Konsumgüter

Tel.: +49 69 9585-5487

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