Effective January 5, 2024, Winning Group a.s. announced the sale of its CoFo division to an undisclosed strategic investor.
The CoFo division is a leading manufacturer of steering and suspension components for the Automotive industry with three plants in Krefeld, Dietenheim and Gelenau. The combined sales of CoFo are 134mio EUR produced by 680 dedicated employees. Winning acquired the entities out of insolvency in 2022 in two transactions.
“I am very pleased that we found an agreement with a strategic investor on the sale of our CoFo business. When this strategic investor approached us, we saw the high synergies and potential they can offer to the CoFo Group. For this business it means a strong parent with international expansion ambitions” said Sebastian Wagner, Chairman and CEO of Winning Group.
“For Winning Group, this sale creates a strong financial position for further growth in an interesting M&A market. I want to thank the CoFo team for their hard work and wish all the best for their future journey. I am sure they will be very successful” Wagner added.
The parties have agreed not to disclose details of the transaction.
About Winning Group a.s.
Headquartered in Brno, Czech Republic, the Winning Group is a strategic investor in the automotive and construction industries with the target to create market leaders through organic growth and targeted acquisitions. The owner-managed group was founded in 2016 and employed in 2023 roughly 3,300 employees with an annual sales of Euro 500M.