Latham & Watkins Advises Mobivia in Michelin’s Acquisition of a Minority Stake in A.T.U

Cross-border team represents Europe’s leader in multi-brand vehicle servicing and parts on sale of minority stake in German automotive services provider.

26 February 2018

In a bid to drive further growth in its German automotive services provider A.T.U (Auto-Teile-Unger) and offer A.T.U customers a continually enhanced experience, Mobivia, the European leader in multi-brand vehicle servicing and parts, has joined forces with world leading tire manufacturer Michelin, which has acquired a 20% minority stake in A.T.U for a total amount of €60 million.

Mobivia and Michelin will combine their expertise in their respective historical markets in order to improve the customer experience and support the development of A.T.U in Germany, Austria, and Switzerland.

Established in 1985, A.T.U today boasts the largest network of auto centers in Germany, which is Europe’s leading auto aftermarket. The brand operates 577 auto centers in Germany, 25 in Austria, and six in Switzerland.

A.T.U became part of the Mobivia group in December 2016, thereby enhancing Mobivia’s coverage as a European provider of multi-brand servicing through its historical brands Norauto, Midas, and Carter-Cash. Mobivia is today the leading auto maintenance and repair chain in Europe, with more than 2,030 workshops and retail outlets, more than 20,000 employees, and total annual revenue of €2.7 billion.

Michelin has over 110 years’ experience in Germany and employs more than 8,600 people in the manufacture, sale, and distribution of tires and associated services in the country. The partnership with Mobivia is an opportunity for the Michelin Group to expand access to markets for its products and offer an even richer customer experience alongside A.T.U.

Latham & Watkins represented Mobivia in the transaction with a corporate team led by Paris partner Denis Criton, with associates Claire Mahieu and Louise Gurly, and Frankfurt partner Gregor Klenk, with counsel Stefan Wirsch and associates Max Holm and Thomas Diekmann.

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