ATESTEO is a German-based global leader in outsourced automotive testing, with a focus on testing drivetrains for electric and conventional propulsion systems in the lab and on the road. ATESTEO’s services ensure that the vehicles of their customers, including some of the world’s pre-eminent automotive manufacturers and suppliers, are safe, reliable and fit-for-purpose.

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Overview

ATESTEO differentiates itself through testing technology, engineering expertise, flexibility, and economies of scale. We acquired a majority stake in ATESTEO in October 2013 and achieved a 4.4x return on exit in December 2017.

How we added value

• Instrumental in the strategic repositioning of the Company; strengthened and widened the testing service portfolio while non-core activities were discontinued
• Significant international expansion driven by customer wins in Europe, China and North America. Tripled capacity of its Chinese operations through expansion and opened new state-of-the-art facilities in Germany
• Completed two acquisitions, including straesser, a leading vehicle testing service provider, in September 2017 which opened up significant growth potential
• Rebranded the business in 2016 to ATESTEO to underline its position as a leading testing service provider
• Strengthened the Board with the appointment of Günter Hauptmann and Ad Verkuyten through our Business Leaders Network
• Grew existing asset and personnel base for hybrid and electric vehicle tests
• Simplified the corporate and shareholder structure including the professionalisation of internal processes

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i Germany.