PRINT THIS PAGE KKR acquires German ATU from Doughty Hanson for E1.45bn30/06/2004. Source: AltAssets. 
 Kohlberg Kravis Roberts has acquired German car parts company, Auto-Teile-Unger (ATU) from Doughty Hanson for E1.45bn. The announcement comes just weeks after the company scrapped plans for an initial public offering due to poor investor demand.
Doughty Hanson acquired ATU for E900m in June 2002. The company currently has 447 outlets in Germany, 13 in Austria and one in the Czech Republic. In the year ending 31 December 2003, ATU had turnover of around E1.1bn and an EBITDA of E203m.
'We are delighted to acquire this well managed, innovative market leader and share the company's vision of expanding its national and international service network and seizing other substantial growth opportunities which lie ahead,' said Johannes Huth, managing director of KKR.
'KKR, with its long-term track record of sustainable value creation, is a strong partner with whom we see a clear perspective for the further growth of the company,' added Werner Aichinger, chief executive officer of ATU. 'We look forward to building the company together, both nationally and internationally.'
The deal is KKR's third in Europe this year. It is currently working to close on the acquisition of Dutch retailer Vendex and German chemicals firm Dynamit Nobel. The firm has also made three acquisitions in the US.
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