TKH divests HE System Electronic

TKH Group N.V. (“TKH”) announces the divestment of HE System Electronic GmbH (“HE”) to Magna International Inc (“Magna”), a mobility company and one of the world’s largest automotive suppliers.

HE is active in the field of efficient electronic assemblies that are customized for the industrial and automotive market as well as power modules. HE employs a total of 118 FTEs and has operations in Veitsbronn and Obermichelbach, Germany. In 2023, turnover at HE, which is part of TKH’s Smart Manufacturing systems, amounted to €20.7 million.

Closing of the transaction is expected to take place at the end of May 2024. Upon closing, TKH is expecting a net cash inflow of approximately €33 million in Q2 2024.

Alexander van der Lof, CEO of TKH Group: “The divestment of HE System is part of the divestment plan to focus the TKH activities on the core technologies. Over the past years, HE has successfully developed unique power electronic modules, which play an increasingly vital role in the electrification of the automotive industry. With Magna we have found the right environment to support HE in their next phase of growth”.

Haaksbergen, May 15, 2024