The business had a solid top 3 European position but was underperforming compared to peers. Performance was drastically improved through strategic channel repositioning, investments in new product development and capacity expansion, and improvement of the cost position. As a result, and despite the Corona crisis, revenues grew and profits more than doubled.

Situation

Underperforming business previously carved out of a corporate

Business

Automotive Tier 1 supplier of technical components for both OEM and aftermarket channels