Autonet Group Holding (AGH), an integral part of the SAG group, ranked fifth in the European aftermarket sector, has forged a partnership with Augsburg International (AI), one of Romania’s most important independent auto parts distributors. As a result, AGH has acquired a majority stake in AI, in which it will have a 51% stake, while AI’s current stockholders will retain 49%. Autonet Import Romania (AIR) and Augsburg International will maintain their separate brands, operating in parallel, continuing their activity as before and addressing the same customer groups.
Both companies have been operating on the Romanian market for more than 25 years, sharing a number of common characteristics. AGH operates in five countries, with 13 companies.
AI is one of the top aftermarket auto suppliers in the country, with over 600 employees.
“We are very confident in this alliance, as it will result in a company with a stronger presence in the Central and Eastern Europe region.” declared Mihály Lieb, AGH shareholder. „The decision to embark on this journey with AI was based on shared values and a similar business model. As a result, we will continue to work, together, to address the needs of current customers, providing them with a broader range of products and services. AI’s shareholders and management team, will continue to be involved in day-to-day operations.”, added Mihály Lieb.
“Analyzing the future of the European automotive market and the challenges that emerge in our sector, AI’s alliance with AGH was only a matter of time. We’ve been competitors for over 25 years on the Romanian market, but we’ve always shared common values. These shared values and a similar business model have enabled this collaboration, of which we are extremely proud and look forward to with optimism.The completion of the transaction is contingent on the receipt of all necessary approvals from the regulatory authority.”, stated Marius Constantinoiu, AI. “Together, under the Swiss SAG Group umbrella, we will be one of the important players on the European market. This position will bring a value increase for both companies, to our colleagues and our customers. I look forward to the challenges that this new context will bring, continuing function as an independent company and, at the same time, a member of a European family.”, added Mr. Constantinoiu.
The completion of the transaction is contingent on the receipt of all necessary approvals from the regulatory authority.
We are delighted to share with you this important milestone for our company, and we are confident that we will continue our partnership with you in the future, with even greater success!
The Augsburg International Team
The Autonet Group Holding Team