Germany’s Continental has announced the sale of its ContiTech Original Equipment Solutions (OESL) business area to US investment firm Regent. The sale is subject to antitrust approval. The parties have agreed not to disclose the purchase price or other details.
The sale follows the ContiTech sector’s announced strategy of focusing even more strongly on industrial customers in the future.
“The decision to sell OESL is part of our broader strategy to focus even more strongly on the industrial business. In the future, ContiTech will become an independent specialist for material solutions with a strong industrial focus,” said Philip Nelles, member of the Continental Executive Board and head of the ContiTech division. “Due to the dynamic market development, our focus on the industrial business is the cornerstone of our strategy. With the implementation of the sale of OESL, ContiTech will generate around 80% of its sales with industrial customers. Our customer portfolio is highly diversified both in terms of industry and region.”
OESL employs more than 16,000 people and generated revenue of approximately EUR1.9 billion in the 2024 fiscal year. The business unit develops and produces hose lines and bearing elements for combustion and electric vehicles.
“With its attractive product portfolio and extensive automotive expertise, OESL has a strong foundation with good future prospects. As a long-term and strategically oriented owner, we will drive the transformation toward sustainable and future-oriented mobility solutions together with management and leverage OESL’s value creation potential. In doing so, we are creating resilient prospects for employees worldwide,” said Michael A. Reinstein, founder and chairman of Regent.