---
title: Acquisition of Borgers Automotive by Autoneum successfully completed
date: 2023-04-03T01:00:34+02:00
author: Markus von Allmen
canonical_url: "https://autoneum.com/news/acquisition-of-borgers-automotive-by-autoneum-successfully-completed"
section: News (Detail)
---
The purchase agreement signed on January 6, 2023, to acquire the assets of the insolvent Borgers companies by Autoneum could be completed. As a result, Autoneum will take over the assets of the Borgers companies in Germany and the shares in the subsidiaries in France, Poland, Sweden, Spain, the Czech Republic, the United Kingdom and the USA as well as in the company in Shanghai, China, with effect from April 1, 2023. As already communicated, the enterprise value paid amounts to EUR 117 million.

The product and customer range of Borgers Automotive, the specialist for textile acoustics protection, insulation and trim for vehicles, ideally complements Autoneum’s sustainable product portfolio. Particularly with the wheel arch liner and trunk lining product lines as well as the truck business, Autoneum’s global presence offers further potential for profitable growth also outside Europe. In addition, Borgers has more than 150 years of experience in recycling textile materials. In the 2022 financial year, the Borgers Group – excluding the mechanical engineering division which was already sold in the summer of 2022 – generated expected annual revenue of around EUR 700 million and employed around 4 500 employees worldwide. Autoneum has agreed new pricing and delivery terms with Borgers’ customers, which will ensure both sustainable profitability and the further development of technologies and processes.

The acquisition of Borgers Automotive is a significant strategic milestone in the history of the Company. Eelco Spoelder, CEO of Autoneum since March 27, 2023, said: “Borgers Automotive has a high level of expertise in the field of sustainable product development. We will gradually integrate Borgers Automotive into our organization. Autoneum and Borgers are both established suppliers valued by automotive manufacturers worldwide for their quality. I am looking forward to leading them into a successful joint future under one roof. The continuous supply of high-quality products to our customers is guaranteed and will also be a top priority during the ongoing integration process.”

From April 1, the former Borgers sites in Germany will be part of Autoneum Germany GmbH, which has been in existence for many years. The other subsidiaries worldwide will gradually be renamed Autoneum.

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