[Company overview] Auto Teile Unger' (A.T.U.) Drive in Europe
A comprehensive company overview of ATU
Before diving in deep about A.T.U., let’s zoom out a bit: in the automotive landscape of Europe, Aurelius Equity Opportunities has emerged as a formidable player, engineering a significant automotive vertical encompassing distribution, services, and manufacturing. While its primary focus has been the German market, the ripple effects of its initiatives are felt across the European continent.
Central to Aurelius' mission is its knack for rejuvenating distressed automotive enterprises, breathing new life into them and steering them towards a path of profitability and sustainability. Among the myriad automotive assets under its umbrella, A.T.U. and Rivus are touted as the major holdings, representing the tangible fruits of Aurelius' adept private equity maneuvers.
Peeling back the layers reveals a rich portfolio of automotive entities owned by Aurelius Equity Opportunities, each with its unique narrative and contribution to the automotive ecosystem:
Rivus Fleet Solutions: This gem was prised away from Volvo in 2021, and now stands as a robust commercial vehicle fleet management and leasing company based in Germany, effectively complementing Aurelius’ automotive narrative.
GTÜ Gesellschaft für Technische Überwachung: Since 2017, when Aurelius acquired a majority stake, GTÜ has held its position as Germany's preeminent vehicle inspection entity, boasting over 500 testing centers scattered across the nation.
Hellanor: Venturing into the realm of wholesale, Aurelius brought Hellanor, a Norwegian distributor of automotive spare parts, into its fold in 2018, widening the geographical tapestry of its operations.
Brixton Motorcycles: The tale of Brixton Motorcycles is one of resurgence, with Aurelius playing the white knight in 2016, reviving this British motorcycle manufacturer from the shackles of bankruptcy.
Jack Sewing Machine: This German-based manufacturer of automotive workshop equipment has been a part of Aurelius’ journey since 2008, epitomizing the firm’s long-term investment ethos.
The star of the Aurelius automotive portfolio, however, shines brightly on Auto Teile Unger (A.T.U.), a distinguished auto parts wholesaler and retailer rooted in Germany, with its branches reaching out across Europe:
Established in 1985 with its headquarters nestled in Weiden, Germany, A.T.U. has grown its footprint to over 500 wholesale and retail outlets scattered across Germany and beyond.
The company serves as a conduit for automotive replacement parts and accessories catering to both passenger cars and commercial vehicles. Its wholesale operations are a lifeline for garages, repair shops, and retailers, while its retail outlets extend their offerings directly to consumers.
The wide array of products distributed spans from brake parts, lighting, batteries, to engine components and oils/lubricants among others, representing a one-stop solution for automotive needs.
The beating heart of its distribution network is a sprawling center in Weiden, covering over 35,000 square meters, orchestrating the seamless supply to its wholesale network.
On the retail front, A.T.U. has carved a niche in low-cost parts, primarily targeting DIY customers and smaller workshops, embodying a blend of affordability and quality.
With over 4,800 individuals employed across its operations in Germany and Europe, A.T.U. is a significant player in the job market, contributing to the economic vitality of the regions it operates in.
Since 2017, A.T.U. has been under the stewardship of Aurelius Equity Opportunities, aligning its vision and operations with the broader strategic goals of the private equity firm.
The narrative takes an intriguing twist as Auto Teile Unger (A.T.U.) intertwined its destiny with the French family company Mobivia in December 2016. This Franco-German alliance has propelled A.T.U., alongside its French partners, to the zenith of vehicle service in Europe, boasting almost 2,000 workshops and a workforce exceeding 22,000 employees.
In essence, Auto Teile Unger is not merely a company; it is a vibrant cog in a larger automotive machinery meticulously assembled and fine-tuned by Aurelius Equity Opportunities. A.T.U. encapsulates a dual commercial persona, engaging in both wholesale distribution and retail sale of automotive spare parts across Europe, serving a diverse clientele spanning B2B and B2C segments.
Important milestones for Auto Teile Unger (A.T.U.)
1986 – Initial establishment of a branch in Aschaffenburg.
1992 – Milestone 100th branch inaugurated in Kulmbach.
1993 – Headquarters commenced operations in Weiden.
2000 – Weiden hosts the inauguration of the first recycling facility, which has evolved into one of Europe's foremost tire recycling plants under the banner of Estato Umweltservice GmbH.
2002 – Launch of the logistics hub in Werl.
2005 – The digital leap with the introduction of an online storefront, now boasting a bustling traffic of over 1 million visitors monthly.
2016 – A.T.U. merges its trajectory with Mobivia.
2020 – Parsdorf unveils a cutting-edge test center, representing A.T.U.'s most modern branch on German soil.
2021 – Divestiture of the auto glass segment coupled with a strategic alliance with Carglass.History of Auto Teile Unger (A.T.U.)
Portrait of Peter Unger - Image credits: Onetz.de
Peter Unger founded A.T.U. in 1985 (source). By June 2002, a private equity firm, Doughty Hanson & Co, bought around 80% of A.T.U.'s shares. Although an IPO was planned for May 2004, it was canceled, and instead, the company was sold to KKR for 1.45 billion euros, with Doughty Hanson & Co retaining a minority stake. In February 2010, KKR acquired an additional 18.5% shares from Doughty Hanson & Co. By December 2013, US investor Centerbridge, being the largest creditor, took over the majority of A.T.U. from KKR, leaving KKR with a three percent stake.
In February 2014, A.T.U. revealed plans to lay off 900 employees in Germany and closed some branches. In 2015, A.T.U. shut down 16 branches in the Netherlands and the Czech Republic, continuing operations in Germany, Austria, and Switzerland.
In July 2016, Joachim Zims, a known renovator, was hired by A.T.U. By September 2016, talks of a possible sale to French competitor Mobivia emerged. Due to unfavorable forecasts, a three-week period was initiated to avoid insolvency. On December 8, 2016, just before the deadline, an agreement on workshop rents for nearly half the locations was reached, averting insolvency. Consequently, Mobivia acquired the majority of A.T.U. From February 2018 to spring 2022, Michelin held a fifth of A.T.U.'s shares, which were later bought back by Mobivia.
In April 2020, bankruptcy proceedings began for the Swiss branch of A.T.U., affecting its six branches and 75 employees in Switzerland. Towards the end of 2021, A.T.U. updated its logo on its website and sold its auto glass business to Carglass, entering into a cooperation. In October 2022, A.T.U. branched out into the bicycle market with a pilot branch in Munich offering bicycle services. Later in 2022, A.T.U. also introduced a mobile service for selected automotive services.
On October 6th, 2023 (source), a lawsuit initiated by A.T.U. and Carglass against Fiat Chrysler, led to a ruling by the European Court of Justice (ECJ) that dismantled the barriers erected by vehicle manufacturers. The decision grants direct access to crucial vehicle data for independent service providers without the requirement of "secure gateways". This legal action aimed at fostering fair competition within the motor vehicle service market.
"We very much welcome the ECJ's decision. The ruling creates legal certainty across the EU and strengthens free competition for the benefit of all independent market participants in the automotive service sector. The real winners are the consumers who continue to have their free choice of workshop.” Lars Heyne, the Managing Director of Transformation at A.T.U.
The ECJ's decision is binding across the EU, emphasizing the importance of fair competition and consumer choice in the automotive service sector. The court also acknowledged cybersecurity concerns but affirmed that they can be managed by vehicle manufacturers without restricting the automotive service market. This ruling enables independent service providers to compete freely with car manufacturers' service operations under EU law, benefiting consumers by maintaining their freedom of choice for vehicle services.
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