12 Jan Grupo KUO acquires a technology leader in Dual Clutch transmissions market
Excerpt of press release by Grupo KUO
Mexico City, January 12, 2012 – Grupo KUO, S.A.B. de C.V. (BMV: KUO), hereinafter Grupo KUO, by its subsidiary Transmisiones y EquiposMecánicos, S.A. de C.V. (“Tremec”), acquired the dual-clutch transmissions (DCT) business by purchasing the assets of HOERBIGER Drivetrain Mechatronics B.V.B.A. (“HDM”) in Loppem, Belgium.
In 2010, the acquired business, recorded sales of approximately US $17 million, its circle of customers includes leading transmission manufacturers in Europe.
Compared to conventional manual and automatic transmissions, dual-clutch transmissions (DCT) are marked by greater shift comfort, sportiness and fuel efficiency.
“This purchase will enable Grupo KUO to accelerate its incursion into DCT systems and to enter new markets segments boasting high growth,” said Juan Marco Gutiérrez Wanless, CEO of Grupo KUO.
Atlas Advisors acted as exclusive financial advisor to Grupo KUO in connection with this transaction.
Atlas Advisors is the marketing name for Atlas Advisors, LLC and Atlas Strategic Advisors, LLC. Atlas Strategic Advisors, LLC provides financial advisory services in connection with mergers, acquisitions and other similar transactions. Atlas Strategic Advisors, LLC is a wholly owned subsidiary of Atlas Advisors, LLC and a member of the FINRA.
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