Just over a month after Rhiag Group agreed to a takeover of Czech car parts dealer Auto Kelly, anti-monopoly officials have given approval for the deal. Rhiag already owns Prague-based Elit Group, one of the largest auto parts suppliers in the region, so the addition of Auto Kelly stands to make Rhiag the dominant player in the CEE region.
Combined sales for the new group are expected to be around €600 million. Rhiag is a portfolio company of Alpha Private Equity.
Auto Kelly (www.autokelly.com)
Auto Kelly deals in after-market auto parts and accessories for cars and light trucks in the Czech Republic. The company imports and distributes parts through more than 60 retail outlets and 150 service centers throughout the country. Auto Kelly sells internationally to customers in Bulgaria, Croatia, Germany, Hungary, Romania, Serbia, Slovakia, and Ukraine. The company generated total sales of €100 million in 2009.
Established in 1962, Rhiag supplies replacement parts and car accessories to automotive wholesalers in the Czech Republic, Hungary, Slovakia, Ukraine, Italy, and Switzerland.
Among the thousands of items carried are engine parts, electrical components, and mechanical systems. The Swiss company is based in Baar and employs 1,500.
Alpha Private Equity (www.groupealpha.com)
Alpha Private Equity is a private equity firm active in Europe since 1985, currently managing assets of nearly €1.5 billion.
Alpha typically invests €20 million to €200 million in exchange for majority ownership of targeted companies. Transactions are generally structured as leveraged buy-outs or development capital for spin-offs or family-owned enterprises.
Alpha has no particular sectors of interest, preferring instead to remain open to any profitable venture it may find.