MCF supports Neils & Kraft and the Senger Group in the sale of two leading Mercedes-Benz dealers in Central Germany
The Senger Group and Neils & Kraft, two leading German car dealership groups, have sold the majority stake in Senger-Kraft Automobile GmbH (“Senger-Kraft Automobile”) and Senger-Kraft GmbH & Co. KG (“Senger-Kraft”), both leading Mercedes-Benz dealers in Central Germany, to Autohaus Schade and Autohaus Max Schultz, respectively. MCF acted as financial adviser to the shareholders of the Senger Group and Neils & Kraft and helped secure a successful outcome for its client.
The Deal
In the light of reorganisation of the Mercedes-Benz sales area in Germany, and particularly in Eastern Germany, expansion of geographical presence as well as growth in service offering, is key in order to increase sales and profit targets going forward. Senger-Kraft Automobile, which has locations in Bad Salzungen, Schmalkalden and Schwabhausen, will join the Autohaus Schade group, and Autohaus Max Schultz takes over the shares of Senger-Kraft, which operates dealerships in Erfurt, Soemmerda, Weimar, Apolda, Naumburg, Weissenfels and Leipzig. Both companies are long-standing Mercedes dealers in the new federal states.
The Target
Senger-Kraft Automobile and Senger-Kraft serve customers at 11 locations and employ around 350 people. Together, both entities hold leading market positions as Mercedes-Benz dealers and car service providers in Central Germany.
About Senger Group and Neils & Kraft
With headquarters in Rheine (North Rhine-Westphalia), the Senger Group is one of the largest automobile dealers in Germany and altogether the group currently operates in 41 locations with just under 2,500 employees. The company generated sales of around EUR 1.4 bn in 2018 and marketed 42,900 vehicles. The car brands offered by the group include the Mercedes-Benz, Audi, Porsche, Volkswagen, Smart, Skoda and DAF Trucks, as well as services for Seat and MAN. With headquarters in Giessen (Hesse) and further locations in the Rhein-Main area, Neils & Kraft is a contractual partner for Mercedes-Benz and offers the brands Mercedes-Benz, Smart and Fuso and is also a service partner for IVECO.
