Although the total value of the deal has not been disclosed, Excel is thought to have made an initial investment of E25m, including a capital increase for the business.
Commenting on the firm’s plans for the business going forward, Vicente Bernard, chief executive at Expert, said he expects to grow the group by “entering new business segments, with new products and beginning relationships with new customers in the coming years.”
The buyout is Expert’s second deal in the automotive sector, following its recent acquisition of a controlling stake in the Spanish off road motorcycle manufacturer, Gas Gas Motos. Other deals include investments in Meta4, Unitronics, Printone and Rotographik and Real Musical.
Based in Frankfurt, Expert operates in different businesses supporting automotive manufacturers, such as design and engineering, industrial machinery, module assembly and manufacturing.