Altran has acquired Czech Republic based Swell, an automotive engineering services provider to Germany and Eastern & Northern Europe. The deal, the value of which has not been disclosed, provides Altran with access to a portfolio of key automotive players, as well as a team of around 160 and a footprint in the Czech Republic.
Swell is a Czech Republic based development services provider to the automotive industry. Founded in 1993, by Lubomir Drašar and Pavel Krois, the company was acquired in 2014 by the venture capital fund Genesis Private Equity Fund II (GPEF II), managed by Genesis Capital. Today the company employs around 160 staff that provide clients across Germany, Eastern & Northern Europe with testing, prototyping, CAD/CAE and other engineering related services.
Altran’s acquisition boosts the firm’s capabilities in the German region, and is part of the firm’s turnaround in Germany. Through the deal the firm is better able to service key OEMs across the regions, such as Skoda, Robert Bosch, Continental, Magna and Honeywell, in addition, it provides the basis for a possible nearshore center, as part of Altran’s Industrialized GlobalShore network.
The acquisition, which follows on the heels of the firm’s acquisition of Benteler Engineering, adds a presence in the Czech Republic including the company’s headquarters, engineering offices, prototyping workshops and testing facilities, as well as advances the firm’s realisation of its 'Altran 2020. Ignition' strategic plan (the company aims to reach a revenue of €3 billion by 2020).
Commenting on the acquisition, Dominique Cerutti, Chairman & CEO of Altran, states, “We made Germany a priority market for Altran in our Altran 2020. Ignition strategic plan. With the acquisitions of Swell and Benteler Engineering we have rebuilt our capacity and capabilities in the region. Swell also offers potential to be integrated to our Industrialized GlobalShore network as a nearshoring platform, which will be a differentiator in providing our automotive clients around the globe with an integrated offer addressing the complete vehicle.”